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Trio Success in Xintiandi Area in Shanghai

DTZ investment team in Shanghai completed the sale of the luxury serviced apartment tower “Baccarat Residence 8” for Carlyle Group.

Overview

After our success with the sale of Shama Luxe and the Jin Lin Tian Di retail podium, the DTZ Investment team completed a hat-trick in the Xintiandi area in 2009 by helping Carlyle Group divest its luxurious serviced apartment project, known as "Baccarat Residence 8". The property is considered one of the most prestigious and expensive residential towers in Shanghai.

What DTZ did

  • The DTZ Shanghai team brought in a local private investor, who DTZ previously assisted in the purchasing of City Apartment, to clinch the deal within a very short time.
  • The team dedicated themselves to this project by working five days around the clock to keep up with the pace of the negotiations, which led to the completion of the transaction. This is the second acquisition the purchaser has completed with DTZ in 2009.

Results

The sale of the property took our investment transactions completed in 2009 to more than USD1 billion.

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