SC Capital Partners and THi have also formed a 50:50 joint venture to co-develop the project, with SC Capital Partners acting as the overall project manager and lead investor.
SC Capital Partners, a private equity real estate firm based in Singapore, has acquired a rectangular plot of land measuring over 50,000 sq m (538,196 sq ft) in China’s Suzhou Industrial Park. The acquisition was jointly made with Shanghai’s THi Holding Management Corp., with the partners set to develop the land into a Grade-A industrial facility targeting high-end manufacturers, boasting a total of 103,000 sq m (1.1 million sq ft) of net lettable area.
Zero Point, an electric vehicle battery pack company, has been secured as the anchor tenant of the facility, which will also come fitted with solar panel rooftops. This marks SC Capital Partners’ second investment in Suzhou Industrial Park, a manufacturing and logistics hub.
Suchad Chiaranussati, chairman and founder of SC Capital Partners said the transaction “strengthens their collaboration with THi in pursuing growth opportunities in the industrial and logistics sector in the Yangtze River Delta”.
Sarah Hu, director and general manager of THi Management, said that demand for regional industrial and logistics assets is expected to remain resilient, noting that “working with strategic partners who have established connections and expertise on the ground is essential for the successful execution of strategies for investment managers”.
To co-develop the project, SC Capital Partners and THi have formed a 50:50 joint venture, with SC Capital Partners serving as the overall project manager and lead investor. This latest acquisition strengthens SC Capital Partners’ presence in the Asian Pacific and is set to bring many benefits to its investors.