trending Market Intelligence /marketintelligence/en/news-insights/trending/ss1q3mx3qiv1qgkpdmh9xw2 content esgSubNav
In This List

Dalian Wanda completes sale of London project


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Dalian Wanda completes sale of London project

Dalian Wanda Group Co. Ltd., through two of its units, has completed the disposal of the One Nine Elms project in London to Chinese developer Guangzhou R&F Properties Co. Ltd.

Wanda Hotel Development Co. Ltd.'s deal with Guangzhou involved the sale of a 60% stake in the project company for about £35.6 million. In January, Guangzhou agreed to repay approximately £159.5 million in debt to Wanda Hotel on behalf of the project company, a debt that was later revised in June to about £161.3 million under a supplemental agreement.

Wanda Hotel said in a release that £90.0 million of the debt remains outstanding as at July 6.

Wanda Commercial Properties (Hong Kong) Co. Ltd., meanwhile, sold the remaining 40% stake in the project company at the same per-share price.

One Nine Elms was Dalian Wanda's first and only London project and was expected to include apartments, offices, retail space and a hotel.