Emerging markets investment specialist Actis has launched a joint venture to develop modern logistics properties in China.
The tie-up with logistics real estate platform New Ease will have a first pipeline of projects across Chongqing, Quanzhou and Tianjin, with a total investment of about $200m.
Actis’ Asia real estate business invests across Greater China, India, South Korea and South East Asia.
New Ease, which was launched in 2018, is focused on investing, developing and operating state-of-the-art modern logistics properties in China, and had about 4 million sq m of assets in operation or under development at the start of this year.
Brian Chinappi, partner and head of Actis Asia Real Estate, said, “Despite the rapid growth in demand, there remains a shortage of high quality logistics facilities in China.”
Sun Dongping, the founder and chairman of New Ease, added, “With the continuous urbanization and robust growth of the domestic consumption in China, we found the modern logistics warehouses serving as the backbone infrastructure in the selected gateway cities are greatly demanded.”
Reports emerged in August last year that Actis was out eyeing up to $600m for its latest Asia real estate fund.
The firm bought the Asia-based real estate business of Standard Chartered Bank last year, acquiring assets across China, India, and South Korea.
Last October Actis agreed to invest up to $180m in a Series C round for Chinese data centre business Chayora.
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