Keppel Capital’s Alpha fund and Allianz in JV to acquire property in Shanghai business park

SINGAPORE (Sept 13): Alpha Asia Macro Trends Fund III (AAMTF III) and Allianz Real Estate together with a co-investor, are jointly acquiring a prime office building in China for US$48 million ($65.7 million).

Bay Valley C6 is a 13-storey Grade A office property located in the Bay Valley Business Park, one of the largest business parks in Shanghai’s Yangpu District which is the city’s new technology and entrepreneurial hub. Completed in June 2014, Bay Valley C6 offers a total aboveground GFA of 19,768 sqm and has seen positive leasing demand especially from the TMT (Technology, Media, and Telecom) and pharmaceutical sectors.

AAMTF III is managed by Alpha Investment Partners, the private fund management arm of Keppel Capital Holdings. AAMTF III, through its wholly-owned subsidiary, Aspiration Valley (III) has entered into a joint venture agreement to subscribe to a 48% stake in Jiangwan Valley (III) which holds an indirect 100% stake in Bay Valley C6. Allianz will hold a 41.5% stake and the remaining 10.5% stake will be held by another investor of AAMTF III. Allianz is also an investor of AAMTF III.

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