AM alpha GmbH announced that it successfully completed the purchase of Tianchen Rose Plaza for an estimated 150 million. The transaction was advised and negotiated by AM alpha (Singapore) Pte. Ltd., a wholly-owned subsidiary. Situated on North Sichuan Road in Hongkou District, Shanghai, Tianchen Rose Plaza is a newly completed mixed use commercial building comprising of office and retail space.
The post-acquisition strategy is to reposition the asset into a lifestyle hub. With additional capital expenditure, AM alpha intends to enhance both the façade and internal layout to unlock the full value of this asset.
AM alpha Singapore is the platform for AM alpha GmbH's foray into Asia, enabling access to deal flows in gateway cities. In relation to China, AM alpha believes in the long-term growth potential of the Chinese economy and fundamentals of the Hongkou catchment area. AM alpha GmbH is therefore confident that this latest acquisition will be an important development of the Sichuan North Road. The acquisition is viewed as an opportunity to participate in and contribute towards the growth and development of the surrounding area.
Source: AM alpha