Wheelock and Co. Ltd. subsidiary Wheelock Properties Ltd. entered into a deal to sell the O'South Retail portfolio in Hong Kong's Tseung Kwan area for HK$3.38 billion.

Pan-Asian private equity real estate investment group Phoenix Property Investors is buying the 300,000-square-foot portfolio, which comprises Capri Place at 33 Tong Yin St., Savannah Place at 3 Chi Shin St. and Monterey Place at 23 Tong Chun St.

According to a release, the assets are situated by the waterfront in an integrated neighborhood in the Tseung Kwan O area.