DTZ's investment teams in Shenzhen and Chongqing complete transaction of an onshore joint venture on a residential plot in Chengdu between Zhongrong Trust (ZRT) and Chongqing Loncin Group.
Overview
DTZ's investment teams in Shenzhen and Chongqing successfully completed the first deal in 2010 – the transaction of an onshore joint venture deal between Zhongrong Trust (ZRT) and Chongqing Loncin Group, one of the top developers in the local market. The subject is a residential plot at Jiancai Road, Chenghua District owned by Chongqing Loncin Group. It spans 62,058 sq m with a planned GFA of 358,987 sq m.
What DTZ did
With experience from previous offshore JV deals, the Shenzhen and Chongqing teams helped ZRT and Loncin to complete the deal, which is DTZ's first with domestic trust companies.
Results
- ZRT raised RMB283 million which was injected into the project company as registration capital.
- The deal demonstrates our market coverage with domestic financial institutions and our deal-closing ability.