Macquarie establishes RE platform with China Jinmao

The Sydney-based group has set up a Chinese real estate investment platform with the enterprise owned by Sinochem Group.

Macquarie Capital has established a China real estate investment platform with China Jinmao Holdings, a Mainland property developer and operator.

The Sydney-based corporate advisory, capital markets and principal investing arm of Macquarie Group said in a statement that JM Capital has been set up to invest both domestic and international capital across various global real estate opportunities, including residential and commercial assets.

China Jinmao is a platform enterprise under the real estate and hotel segment of Sinochem Group, a Beijing headquartered state-owned conglomerate.

“China Jinmao will utilise its expertise and resources in the real estate sector, combining with Macquarie Capital’s global capital market experience to facilitate the development of JM Capital into an internationalized real estate investment platform and create value for both shareholders,” said the statement.

The financial terms of the partnership were not disclosed.

The partnership marks a continuation of Macquarie Capital’s push into China. In August, the Macquarie and Ivanhoe Cambridge-backed logistics operator LOGOS Property Group formed its second China-focused investment vehicle. The LOGOS China Logistics Venture received co-investments from CBRE Global Investment Partners and Ivanhoe Cambridge that would help in making $400 million worth of investments in logistics properties in Shanghai and the neighbouring cities.

Macquarie Capital has also teamed up with Greystar Real Estate Partners to set up the Charleston, South Carolina-based firm’s foray into Asia with the launch of an Asia Pacific rental housing platform.