Brookfield Property Partners to Invest $750M in Shanghai Property Portfolio

Brookfield Property Partners

and institutional partners commit US$750 million to China Xintiandi ("CXTD") Brookfield to become 22% cornerstone partner of CXTD, owner of premier portfolio of Shanghai office and retail assets, including iconic Shanghai Xintiandi Brookfield Property Partners L.P.

has reached an agreement under which BPY along with its institutional partners will invest up to US$750 million of preferred equity in China Xintiandi, a wholly owned entity of Hong Kong listed developer Shui On Land (HKSE: 272).China Xintiandi (CXTD) owns Shui On Land's premier portfolio of office and retail assets in Shanghai. It is anticipated that CXTD will expand through further acquisitions and growth of the portfolio in Shanghai and other major cities in China.CXTD was established by Shui On Land in 2012 as its owner of prime commercial and retail properties in China. Shui On Land is a flagship property developer which has established a solid foundation in China and has a proven track record in developing large-scale, mixed-use, city-core redevelopment projects and integrated residential development projects.In addition to the commitment to invest in the preferred equity of CXTD, Brookfield intends to secure