Carlyle, Townsend To Invest $200 Mln In Partnership With Shanghai Yupei

(RTTNews) - Alternative asset manager Carlyle Group L.P. (CG) and The Townsend Group announced a strategic partnership with Shanghai Yupei Group, a logistics warehouse developer in China, to invest in 17 modern warehouses in China. Carlyle and Townsend would commit around $200 million to acquire equity interests in five warehouses owned by Shanghai Yupei Group and to construct 12 new warehouses in the next two years. Also, Shanghai Yupei Group would invest $200 million, bringing the total equity commitment of the strategic partnership to $400 million.

The 17 warehouses would be located in major logistics hubs across China, including the first-tier cities of Shanghai, Beijing, and Guangzhou, and select second-tier cities such as Shenyang, Tianjin, Chongqing, Zhengzhou and Hefei. Following the completion of its investment plan, the strategic platform expects to own and operate a nationwide logistics warehouse network with over 1.8 million square meters of gross floor area to serve a diverse range of tenants.

Carlyle's equity share would come from Carlyle Asia Real Estate or CARE, which invests in value-add opportunities across all real estate sectors in Asia, as well as in core assets on behalf of separate accounts. With local teams based in Hong Kong, Shanghai, Singapore and Tokyo, CARE has committed an aggregate $2.2 billion of equity in Asia. In China, CARE has made 15 investments with an expected total capitalization of $3.1 billion.