Alpha Investment Partners, the Singaporean real estate investment unit of Keppel Capital, has teamed up with German peer Allianz Real Estate to buy a majority stake in Ronsin Technology Center, a Grade A office complex in Beijing.
Completed in March 2018, Ronsin Technology Center, which comprises six office towers and a retail podium, is located above the Laiguangying subway station in Beijing’s Wangjing sub-district.
With a total investment of 1.3 billion Singaporean dollars ($948 million), the companies will jointly purchase an 85 percent stake in the property from D&J China, which will hold the remaining 15 percent interest in the complex.
On the closure of the deal, expected in the fourth quarter of 2019, the property, with a total net leasable area of around 131,000 square meters, will be managed by Alpha, Allianz, and D&J China.