SC Capital Partners, a Singapore-headquartered private equity real estate firm, has acquired industrial land with Shanghai-based industrial and logistics developer THi Holding Management Corp. The acquisition was for a rectangular plot of land measuring over 50,000 sq m (538,196 sq ft) in China’s Suzhou Industrial Park.
Zero Point, an electric vehicle battery pack company, has been secured as the anchor tenant for the development project, which SC Capital Partners, and THi intend to turn into a Grade-A industrial facility. When completed, this facility will offer over 103,000 sq m (1.1 million sq ft) in net lettable area, with solar panels installed on the rooftops.
Suchad Chiaranussati, chairman and founder of SC Capital Partners, says this acquisition strengthens the firm’s collaboration with THi in pursuing growth opportunities in the industrial and logistics sector in the Yangtze River Delta. Chiaranussati adds, “This new asset in Suzhou Industrial Park is an excellent addition to our opportunistic fund series, which invests in the developed markets in the Asia Pacific.”
Sarah Hu, director and general manager of THi Management, notes that demand for regional industrial and logistics assets is expected to remain resilient. Hu states that working with strategic partners who have established connections and expertise on the ground is essential for the successful execution of strategies for investment managers.
This marks SC Capital Partners’ second investment in Suzhou Industrial Park, and together with THi, the partners have demonstrated their expertise in the industrial and logistics sector, as well as a commitment to growth in the Yangtze River Delta.