Intelligent Real Estate Investments - Hines

Hines and Metropolitan Real Estate Equity Management Acquire Cold Storage Facility and Development Site in China's Greater Bay Area

(SHENZHEN, CHINA) – Hines, the international real estate firm, and a subsidiary of real estate funds managed by Metropolitan Real Estate Equity Management, “Metropolitan”, announced today that they have acquired a 33,800-square-meter cold storage facility and adjacent development site in China’s Greater Bay Area.

The Class A cold chain asset and development site are strategically located in Dongguan’s Shatian District, the premier logistics hub for the Greater Bay Area – the Pearl River Delta metro-zone comprised of nine Chinese cities, the Hong Kong and Macau Special Administration Zones, and over 70 million people therein.

In addition to assuming ownership of the existing operating asset, Hines and Metropolitan will pursue a development program to construct an additional multi-story cold storage complex on the adjacent site, offering much needed cold chain infrastructure to the rapidly growing region.

Hines Managing Director Claire Cormier Thielke said, “We are pleased to partner with Metropolitan on this opportunity. The population growth, policy support, and connectivity of the Greater Bay Area create a compelling story for both general and specialized logistics. We are enthusiastic about the fundamentals of cold storage and the pursuit of transactions in this space as demand grows in a post-COVID environment.”

Metropolitan Managing Director John So commented, “We are very pleased to partner with Hines on a project which we believe will be an integral asset in the cold chain infrastructure in the Greater Bay Area.”

Hines has been active in the logistics sec­tor since 1957. Globally, the firm has acquired 38 mil­lion square feet of logistics space and devel­oped 45 mil­lion square feet in the sector.

Ray Lawler, CEO of Hines Asia Pacific said, “We are pleased to build on the successful 25-year track record of the Hines China team and look forward to expanding our logistics efforts across Greater China, including Beijing and the Yangtze River Delta, and the Asia Pacific Region.”

Hines opened its first China office in 1996 under founding country head, Jim Morrison, and Mr. Benjamin Chu, as one of the first international firms to enter the country. In the period since, the firm has established a track record of development, acquisitions, and operations totaling over 14 million square feet and US $4.4 billion of total experience across Beijing, Shanghai, and Dalian.

Hines opened offices in Hong Kong in 2019 and Shenzhen in 2020. The Greater Bay Area new business team includes Mr. Arthur Hui in Hong Kong and Mr. Derek Hrzek in Shenzhen, who will manage development of the new Dongguan cold storage facility.

About Metropolitan Real Estate Equity Management

Metropolitan Real Estate is a multi-manager real estate private equity investment platform that is part of Carlyle’s Investment Solutions business. The platform encompasses primary fund investments, direct property co-investments and secondaries, creating multiple and complementary ways for Metropolitan to invest with its partners. Metropolitan has a global team that comprises more than 40 people in the U.S., Europe and Asia. It is led by an investment committee averaging more than 25 years of industry experience.

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $221 billion of assets under management as of June 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 31 offices across six continents. For additional information, please visit www.carlyle.com.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.

Since its entry into China in 1996, Hines has developed numerous landmark projects including 21st Century Tower and Four Seasons in Pudong, Embassy House and Park Avenue in Beijing, and One Museum Place in Shanghai’s Jing’an District. Hines’ track record includes more than 14 million square feet of development, acquisitions, and property operations.

Visit www.hines.com for more information.