Sino-Ocean Capital(SOC), the investment management arm of Chinese real estate developer Sino-Ocean Group, has formed Sino-Ocean Prime Office Partners I LP, a USD 1.4 billion fund to invest into grade A office buildings located in China’s core office markets.
The fund will initially be seeded by two grade A office projects located in the Central Business District of Beijing, namely Ocean Office Park and Project Z6.
Ocean Office Park is a grade-A office complex with blue-chip tenants including Fortune 500 companies. The LEED Platinum building has held the BOMA 360 certificate of excellence since 2019.
Project Z6 is an office development project with a land plot area of approximately 11,007 sq.m. to be delivered in 2026 that combines eco-friendly and modern office concepts.
The fund will be invested by SinoOcean Group(SOG) and global sovereign wealth funds or institutional investors, said Sino-Ocean Capital in a press release.
Chris Wang, Chief Executive Officer of SOC and Vice President of SOG, said “The launch of Sino-Ocean Prime Office Partners I LP is in line with our Group’s strategy to expand our fund management business and grow our assets under management (AUM) in a capital efficient way, reinforcing our position as China’s leading real estate fund manager and establishing longterm capital to further expand our property portfolio. We have been continuously consolidating our ability to raise, manage and exit funds, while forming long-term strategic cooperation with numerous renowned domestic and foreign institutional investors. Our combined investing and operating expertise allow us to create value for our investors.”
Eric Zhou, Executive Deputy General Manager of SOC, added “We are currently at the bottom of the office real estate cycle and the market is already showing signs of recovery. In the medium to long run, China’s urbanization, industry upgrade and consumer upgrade will continue to drive demand for office space. Our collaboration with global institutional investors allows us to realize long-term capital growth and preservation potentials in this attractive asset class.”