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In 2021 our Asia Pacific business completed one of its most significant investment acquisitions to date in mainland China. Joint-venturing with Shui On Land, we acquired Nanjing IFC, a landmark Grade-A mixed-use asset located in the premier location of Xinjiekou, Nanjing.
The property commands a total gross floor area of 109,196 square meters and consists of a 45-storey Grade A office tower, a 7-storey retail podium, as well as 278 underground parking lot.
Nanjing IFC generates strong and stable rental income, with the office building occupied by an impressive tenant roster. The joint-venture will further add value by upgrading the office tower and repositioning the retail podium to benefit more broadly from Nanjing’s excellent economic and demographic fundamentals.
This investment marks the effective execution of Grosvenor’s Greater China strategy, which focuses on strategic residential and commercial joint-ventures with best-in-class partners in high-growth city submarkets in the Yangtze Delta Region and the Greater Bay Area.
Group Services Director