15/09/20171min
e-Shang Redwood (ESR), a pan-Asia logistics real estate developer, owner and operator, has formed a joint venture with Invesco Real Estate to acquire and manage core logistics assets in China, marking the first collaboration of its kind for both parties in the region.
The portfolio consists of class A stabilized logistics real estate assets in China, valued in excess of RMB 2 billion (US$300 million). Invesco acquired a majority stake in the portfolio from ESR. ESR will retain an equity interest and act as the project and property manager of the assets to drive future value for Invesco in partnership with Invesco’s asset management team.