Paul, Hastings in on RREEF China deal

Real Estate Weekly,  July 11, 2007  

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Paul, Hastings, Janofsky & Walker LLP (Paul Hastings) represented RREEF, the real estate and infrastructure investment arm of the Deutsche Bank Group, on the US$320 million listing of the RREEF China Commercial Trust on the Main Board of the Hong Kong Stock Exchange.

Unlike other Hong Kong-listed REITs, RREEF CCT will be managed by an independent Manager (which will be an affiliate of RREEF) and will invest in institutional quality office and mixed-use properties located in major cities in China, Hong Kong and Macau.

Vivian Lam, a partner in Paul Hastings' Hong Kong office who led the team, commented, "We are delighted to be advising RREEF on its first PRC property REIT and will continue to work with them as they make further acquisitions to add to its portfolio. Paul Hastings is in a unique position to help clients in this area, having advised the Managers of all three REITs comprising PRC properties in their listings in Asia.

"With the recent strong growth in China's commercial real estate sector, I am confident we will see more REITs listing in Asia comprising PRC commercial assets. Moreover we are seeing increasing interest for REITs to list on the Mainland stock exchanges, and we are optimistic on the near-term development of this new market."

In addition to the listing, Paul Hastings advised on the HK$1,400 million loan to RREEF CCT arranged by Royal Bank of Scotland.

The team of international lawyers in Paul Hastings' Hong Kong and Beijing offices was led by partners Vivian Lam and Raymond Li and supported by associates Celia Chau, Erika Wan, Pei Fang and Yang Ling.

COPYRIGHT 2007 Hagedorn Publication
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