Mayer Brown's cross-practice team in Hong Kong advised M&G Real Estate on the sale of LiFung Centre, a 487,350 square feet logistics property at 2 On Ping Street, Sha Tin, New Territories, Hong Kong for approximately HK$1.8 billion (equivalent to approximately US$232 million). The team has been advising M&G Real Estate on the sale process for over the past 12 months, which involved rounds of selection and negotiation with multiple bidders of different backgrounds.
M&G Real Estate is recognized as one of the world’s leading property investors, and this deal is reported to be the largest industrial en bloc transaction in Hong Kong this year.
The Mayer Brown team representing M&G Real Estate was led by Real Estate partners Peter Ho and Eugene Wong, and included Real Estate associates Noah Chung and Ronnie Chan, Insurance counsel Jenny Yu (all Hong Kong), and Litigation & Dispute Resolution counsel Liang Pu (London).
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