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Ping An Forms Joint Venture Platform for U.S. Real Estate Investment

Hong Kong/New York - Paul Hastings, a leading global law firm, announced today that the firm represented Ping An Insurance (Group) Company of China (“Ping An”) in its formation of a joint venture (the “Venture”) with Blumberg Investment Partners to invest in long-term, high-quality net-leased assets across the United States.  The Venture has committed to an initial investment in a build-to-suit logistics portfolio primarily consisting of Class A last-mile strategic distribution facilities valued in excess of US$600 million occupied by highly-rated Fortune 500 companies, and has additionally identified in excess of US$400 million of strategically located build-to-suit properties for potential investment. 

Listed on both the Hong Kong and Shanghai Stock Exchanges, Ping An is the second largest insurance company in China.  This investment marks Ping An's entry into the United States’ logistics real estate market.    

This transaction is the first significant Chinese outbound investment in the Western logistics sector.  Philip Feder, the Global Chair of the Paul Hastings Real Estate Department stated, “We want to congratulate Ping An on this market leading transaction and are pleased that we can continue to serve as a significant resource to our foreign clients as they continue to expand their outbound investment strategies and execute transactions that reflect the global nature of their businesses.”     

The Paul Hastings team was led by Real Estate partners David Blumenfeld and Paul Guan, along with Tax partner Tom Wisialowski, with support from associates Elyn HeWilliam Son and China advisor Baker Chen.

 

 

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