Goldman Sachs launches Chinese Infrastructure Real Estate Joint Venture By Stocksak

© Stocksak. FILE PHOTO – The Goldman Sachs logo can be seen on the New York Stock Exchange floor in New York, U.S.A, April 17, 2018. REUTERS/Brendan McDermid/File Photo

By Selena Li

HONG KONG (Stocksak), – Goldman Sachs, NYSE:) has established a joint venture with Sunjade, a local logistics company in China, in an effort to increase investment in Chinese logistics and infrastructure assets.

According to a statement from the bank, the bank will form the new unit through its investment arm Goldman Sachs Asset Management. This has been responsible for more than $50 billion in global real estate investments.

It did not disclose the capital commitment or shareholding structure of the platform.

The joint venture, which focuses its efforts on projects located in China’s first-tier cities or surrounding areas, has invested in 240,000 square meters of project with four institutional-grade warehouse assets in Shanghai and its adjacent area.

The U.S. bank said the new platform will benefit from China’s rising demand for new high-quality infrastructure assets, in particular institutional-quality warehousing space driven by e-commerce and the diversification of industrial requirements supported by government policies.

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