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Case Study

Life Hub @ Jinqiao

Life Hub @ Jinqiao is a mixed-use development located within the affluent Jinqiao area of Pudong, adjacent to Jinqiao Road Station on Metro Line 6. It comprises a retail mall and Grade A office tower of about 98,630 sqm and 16,100 sqm respectively. With 11 towers in the site, the total GFA is 178,478 sqm.

The project opened in January 2010 and has established itself as the dominant retail destination within a significant and growing catchment area, with a residential population of over 500,000.

IMPLEMENTATIONS

The project is jointly owned by Morgan Stanley and Chong Bang Group who have 80 percent and 20 percent equity stake separately. On behalf of MSREF VII fund managed by Morgan Stanley, JLL Shanghai Capital Markets team were appointed to sell the equity stake of the project.

RESULTS

In February 2013, JLL Shanghai Capital Markets team successfully sold 80 percent interest (owned by MSREF) in Life Hub @ Jinqiao at the value of USD 425.8 million to Keppel Land China Limited and Alpha Investment Partners Limited, the property fund management arm of Keppel Land Limited.

This is the fifth shopping center we sold for Morgan Stanley Real Estate Funds in China and this is also the first mixed-use development acquired by Keppel Land Limited and Alpha Investment Partners in China.

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