Cosco sold 5.4 billion office buildings in Beijing to joint venture fund companies, benefiting1800 million.

Viewpoint Real Estate Network News: On the evening of February 23rd, 65438, COSCO Group Holdings Limited announced that it would sell a Grade A office building located in the core area of CBD in Chaoyang District, China to a fund company, and the estimated income was about17.95 million yuan, with the company and ICBC International holding 50% shares each.

According to the announcement, on 20 18 12 2 1, COSCO Group designated Fan Yong International Co., Ltd., a wholly-owned subsidiary of Artificial Silver International Investment Management Co., Ltd., a limited partnership agreement with Guangyao.

Therefore, the parties to the contract agree (among other things) to manage and invest in the property fund. The property fund is set up for the acquisition of the project company. On the same day, Nansheng, Century and GP also signed a shareholder agreement, according to which both parties reached an agreement on the operation and management of the property fund group (including).

Among them, GP is an ocean-going joint venture company jointly funded by Nansheng Holdings Limited, a wholly-owned subsidiary of Ocean Shipping, and Century Investment Limited, a wholly-owned subsidiary of ICBC International. Both parties agree that their respective contributions are equivalent to RMB 900 million, and each party holds 50% of the shares. Cosco's contribution to the property fund will be allocated by the Group's internal resources.

After the establishment of the investment property fund, Xunrong Chuangfu Co., Ltd., a wholly-owned subsidiary of COSCO, as the seller, entered into a sale agreement with Ganghui Venture Capital Co., Ltd., a wholly-owned subsidiary of the property fund. Therefore, the seller agrees to sell and the buyer agrees to acquire all the issued share capital of the target company.

Viewpoint Real Estate New Media understands that the main asset of the target company is 94.03% (about) equity of the project company indirectly held by it, and the project company holds the property, namely, Ocean Guanghua International (Beijing) (a Grade A office building located in the CBD core area of Chaoyang District, Beijing, China).

The total construction area of this project is about 6,543,800 square meters. For the six months ending June 30th, 20 18, the total rental income of this property was about RMB 654.38+56 million (unaudited), and the occupancy rate was about 93%.

According to the announcement, it is estimated that the net proceeds from the disposal (after deducting expenses) will be about RMB 5.38 billion, which will be used by COSCO as general working capital. The unaudited pre-tax income from this sale is estimated to be about RMB 654.38+79.5 million, thus increasing the return of shareholders. Cosco, as one of the limited partners of the property fund, shareholders who hold 50% of the rights of the general partner can also collect the distribution management fee from the property fund.