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Cade Real Estate sold its Shanghai Yashi Pavilion Hengshan service apartment.
According to APP, recently, Shanghai Waigaoqiao Xuhui Club Co., Ltd., the project company of Shanghai Yashi Pavilion Hengshan Service apartment at 99 Hengshan Road, Xuhui District, Shanghai, completed the industrial and commercial change, and Singapore's Cade Group completed its withdrawal.
According to industrial and commercial information, Shanghai Waigaoqiao Xuhui Club Co., Ltd. completed the investor (equity) change on April 2, and after the change, it was 100% owned by Guangzhou Hengyi Investment Co., Ltd. According to public information, Guangzhou Hengyi Investment Co., Ltd. was founded in 2005, located in Guangzhou City, Guangdong Province, is a business services-based enterprises, shareholders are Lin Weigui and Liang Lijuan, with a shareholding ratio of 66% respectively.Nodepositpokerbonusinstant.78% and 33.22%.
According to APP, Lin Weigui is currently the executive director and legal representative of Shanghai Waigaoqiao Xuhui Club Co., Ltd.
In this regard, the Cade Group responded on April 23 that Cade Real Estate recently sold the Shanghai Yashige Hengshan service apartment to an unrelated third party. This transaction will not affect the normal operation of the project, and the property will continue to be operated and managed by Estee China, a hostel platform owned by Cade. The move is in line with Cade's business strategy and helps to further optimize its portfolio and continue to seek investment opportunities in the Chinese market through the capital cycle.
Cade did not disclose the price of the deal. According to market sources, the earliest offer for the project is close to 2 billion yuan, and the transaction price has not been officially disclosed, but it is also more than 1 billion yuan.
According to the official website of the Cade Group, the Shanghai Yashi Pavilion Hengshan Service apartment is located in the center of Xuhui District, adjacent to the consulates and commercial centers of various countries, and the commercial streets and shopping streets of Nanjing Road and Huaihai Road are close at hand. the service apartment has a total of 90 well-managed suites, each with spacious living and dining areas, well-equipped kitchens, advanced family entertainment systems and floor heating systems.
According to the official reservation website of Shanghai Yashi Pavilion Hengshan Service apartment, taking the period from April 24 to May 24, 2024 as an example, the standard price of an one-bedroom executive suite of 119square meters for 30 nights is 80, 000 yuan, the membership price of Yaxing Club is 72000 yuan, and the standard price of a two-bedroom deluxe suite of 142square meters for 30 nights is 129000 yuan. The membership price is 116100 yuan. The standard price of the 190m2 three-bedroom deluxe suite for 30 nights is 171000 yuan, and the membership price is 153900 yuan. At present, there are only two rooms left. The standard price of the three-bedroom executive suite for 30 nights is 201000 yuan, and the membership price is 180900 yuan. At present, there are only 5 rooms left.
Chen Zhichang, former managing director of Yashige China, revealed in an interview with the media earlier that the Shanghai Yashige Hengshan Road Service apartment, as one of the high-end service apartments in Cade China, has 90 rooms, with a long-term rental rate of more than 95% in 2020 and an annual occupancy rate of more than 90%.
At that time, Chen Zhichang mentioned that due to the high property prices in the Chinese market in recent years, Estee adopted an expansion strategy from heavy to light, and even for quite a long time, dominated by light asset management output.
In mid-April this year, Yashige Co., Ltd. announced a new personnel appointment, with Huang Weimin replacing Chen Zhichang as managing director of Estee China. Prior to joining Estee, Huang Weimin served as Vice President of franchising and Holidays Express Hotel of Continental Hotel Group in Greater China. Estee said it will continue to work in China and plans to bring more international brands to China. According to official information, Estee has been stationed in 42 cities in China, owning and managing more than 200 properties.
Judging from a series of developments in Cade Group, it is continuing to adjust its investment portfolio.
According to the official website, Cade Group (Cade) is a well-known large and diversified real estate group in Asia. Headquartered in Singapore, Cade focuses on real estate investment management and development, with a portfolio in more than 260 cities in more than 40 countries around the world. It entered China in 1994, which is one of the core markets of the group. Currently, Cade manages more than 300 projects in more than 40 cities in China.
According to Cade's website, it gives the business a competitive advantage by developing a strategy to promote the coordinated development of its Cade Investment (a listed real estate investment management business) and Cade Real Estate (a private development business).
It can be seen that before the sale of Shanghai Yashi Pavilion Hengshan service apartment, Cade Group has continued to adjust its investment portfolio, only this year has been a number of sales and cooperative properties.
CLCT, a subsidiary of Cade Investment, announced on January 27th that it had successfully sold the Cade Mall Shuangjing Shopping Mall near the East third Ring Road in Beijing's Chaoyang District for 842 million yuan. Upon completion of the sale of the project, CLCT will have a portfolio of 10 shopping malls, 5 business park properties and 4 logistics park properties in 12 cities of Chinese mainland.
Then, on January 31, Cade Group announced again that Cade Investment had set up a joint venture with AIA Life Insurance Co., Ltd., and Cade Investment had sold 95% of its stake in Beijing Cade Star Trade Project to AIA Life, retaining the remaining 5% stake, with a total consideration of nearly 2.4 billion yuan.
In March this year, Cade's Asset Trust again transferred three Japanese hotel assets to US $75 million, with a total of more than 500 rooms, with a total floor area of about 10000 square meters.