China Vanke Co. Ltd. and three investment partners signed an agreement to establish a logistics real estate investment fund to cover assets that are either underway or complete.
According to a filing, the fund will target capital subscriptions of 6.00 billion yuan and will be managed by a Shenzhen-based holding company. The scope of the fund's target is also subject to future changes, but may not exceed the 20.00 billion yuan mark.
China Vanke's limited investment partners in the joint venture are companies based in the Chinese cities of Shenzhen, Zhuhai and Ningbo.
As of Oct. 11, US$1 was equivalent to 6.59 Chinese yuan.