APG Joins $920M Investment Deal In China’s Chongbang

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Dutch pension asset manager APG Asset Management N.V. and Canadian real estate company Ivanhoe Cambridge have led a US$920 million investment in Chinese real estate firm Chongbang Holdings (International) Limited, according to an announcement.

No other details of the transaction were disclosed.

Singapore’s GIC is an existing shareholder of Shanghai-based Chongbang, which owns and operates 428,000 square meters of retail and commercial space in Shanghai with another 417,000 square meters under development.

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