SC Capital Partners, THi to develop industrial facility in Suzhou
SC Capital Partners has made its foray into the Chinese market, with previous investments having included the acquisition of two logistics facilities in major Chinese cities with a total area of 65,000 sq m.
SC Capital Partners, an Singapore-headquartered private equity Marina Gardens Condo real estate firm, and Shanghai-based industrial and logistics developer THi Holding Management Corp have jointly acquired industrial land in China’s Suzhou Industrial Park. With this new project, the partners plan to develop it into a Grade-A industrial facility with a net lettable area of over 103,000 sq m (1.1 million sq ft).
Zero Point, an electric vehicle battery pack company, has been secured as the anchor tenant. This rectangular plot of land, measuring over 50,000 sq m (538,196 sq ft) was purchased by the two companies. The rooftops are set to be equipped with solar panels.
Suchad Chiaranussati, chairman and founder of SC Capital Partners, believes that this acquisition has strengthened their collaboration with THi in the Yangtze River Delta. He termed it an “excellent addition” to their opportunistic fund series, which invests in the Asia Pacific region.
Sarah Hu, director and general manager of THi Management, says that demand for regional industrial and logistics assets is expected to remain resilient, underlining the importance of working with strategic partners on the ground.
This is SC Capital Partners’ second investment in the Suzhou Industrial Park. Prior investments of the firm in China include the acquisition of two logistics facilities in major Chinese cities, with a total area of 65,000 sq m.