Baker & McKenzie is advising Champion Real Estate Investment Trust (“Champion REIT”) on its acquisition of the remaining four floors of Citibank Tower which it does not currently own, from The Financial Secretary Incorporated for a consideration of HK$2.155 billion. The acquisition is expected to be completed in July 2013.
Milton Cheng, partner and head of the Firm’s REIT practice in Hong Kong and China led the Baker & McKenzie team advising Eagle Asset Management (CP) Limited, the Manager of Champion REIT. The team also included associate Jeremy Ong.
Baker & McKenzie’s Asia-Pacific REIT Group has been at the forefront of ground-breaking REIT transactions in Asia. The team has been involved in almost all of the significant transactions to date involving REITs listed or with assets in Hong Kong – including Champion REIT’s IPO, follow-on acquisitions, medium-term note programme, placements and convertible bonds issuances; Yuexiu REIT’s IPO and follow-on acquisitions and financings, including its investment in Guangzhou International Finance Center and medium-term note programme; the Link REIT’s medium-term note programme and its property acquisitions; Fortune REIT’s IPO, its dual primary listing in Hong Kong by way of introduction, follow-on acquisitions and financings; Hui Xian REIT’s IPO, the first RMB denominated REIT to be listed in Hong Kong; Regal REIT’s follow-on acquisitions and medium-term note programme; Prosperity REIT’s IPO and follow-on acquisitions and financings; Sunlight REIT’s IPO; and RREEF China Commercial Trust’s IPO.
The team has also advised on numerous other significant REIT-related deals in the Asia-Pacific – including Prospect REIT Investment Corporation’s merger with Japan Rental Housing Investments Inc., Tower REIT’s IPO, Fubon No. 1 REIT’s and Fubon No. 2 REIT’s IPOs, MacarthurCook Industrial REIT’s IPO, Tokyo Growth J-REIT’s IPO, ARA Asset Management’s IPO, YTL Corporation’s acquisition of interests in Macquarie Prime REIT (now known as Starhill Global REIT) and Starhill Global REIT’s first acquisition in Australia.
