Who can talk about the first cooperative long-term rental apartment storage rack REITs issued by Ping An Real Estate?

A few days ago, the first domestic cooperative long-term rental apartment storage rack REITs-Ping An Huitong-Ping An Real Estate Shi Lang Rental Housing Series Assets Special Plan was officially issued.

The special plan is REITs products with a storage scale of 5 billion yuan, which is jointly implemented by Ping An Real Estate Co., Ltd. and Shenzhen Ping An Dahua Huitong Wealth Management Co., Ltd. * *, with Ping An Real Estate as the original owner and credit enhancement arranger, Ping An Huitong as the special plan manager and Shi Lang Group as the credit enhancement coordinator.

The first product of the special plan is based on the long-term rental apartment project "Langshiyu Lan Sen Store" in Waigaoqiao, Pudong New Area. The issuance scale is 65.438+68 billion yuan, with a term of 654.38+08 years, of which the priority securities account for 89%, the highest credit rating is AAA, and coupon rate is 4.6%. Products are enhanced through structural stratification, commitment to make up the difference, liquidity support, mortgage/pledge, etc. To meet investors' requirements for security.

As the basic asset of this special plan and the first long-term rental apartment project invested by Ping An Real Estate, Langshiyu Lan Sen Store is adjacent to Zhouhai Road subway station of Shanghai Line 6, covering developed free trade zone customers in the north and radiating century avenue and Lujiazui business districts in the south. The project has a total construction area of 43,500 square meters and 752 rooms. Products include white-collar apartments and boutique apartments.

It is worth noting that Ping An Real Estate, as a "full-chain ecological resource integrator" in the field of long-term rental apartments, issued the first "cooperative long-term rental apartment storage rack REITs" in China. The so-called "cooperation" mainly includes three meanings: at the level of basic assets, before the issuance of REITs, Ping An Real Estate, as a financial investor, held basic assets with its partner * * * *; At the level of private equity funds, Ping An Real Estate and its partners act as private equity fund managers in stages; At the level of special plan, Ping An Real Estate and its partners hold inferior shares in proportion to their shares.

Long-term rental apartment industry is heading for deep water area. Before the public offering of REITs landed in China, the difference in financing ability of asset securitization will reshape the competition pattern of the real estate industry. It can be predicted that long-term rental apartment REITs are likely to become the starting point for promoting public offering REITs. From this point of view, the asset securitization attempts made by real estate financial institutions such as Ping An Real Estate provide a reference sample for the revitalization of existing apartments and also bring great impetus to the industry.