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Report: Link REIT manager eyeing up to HK$20B sale of 17-asset retail portfolio

Blackstone Group LP, KKR & Co. LP, CITIC and the Abu Dhabi Investment Authority are among the 12 contenders eyeing a 17-asset retail portfolio being marketed by the Hong Kong-based manager of Link Real Estate Investment Trust, Mingtiandi reported, citing various sources.

According to the report, the sale could rake in up to HK$20 billion, marking Link REIT's biggest asset disposal ever.

The 17 shopping centers up for grabs are spread across Tuen Mun, Ma On Shan and Kwai Chung districts in Hong Kong's New Territories. The portfolio includes the 197,170-square-foot H.A.N.D.S shopping mall at the On Ting housing estate in Tuen Mun.

Citing media reports, the publication added that Link REIT's manager tapped HSBC, UBS, and Cushman & Wakefield to advise on the sale, with closing targeted for December.