PRM Signed Asset Management Contract-Gorgeous Stationed in Changsha Lehe City

Release time:

2017-02-13

On February 13, 2017, PRM Business Management ("PRM") officially signed an asset management contract to provide comprehensive asset management services for Changsha Lehe City Shopping Center, a joint venture between Canada's billionaire bridge company and Bailian Group!

PRM Signed Asset Management Contract-Gorgeous Stationed in Changsha Lehe City

On February 13, 2017, Burley City Business Management ("Burley City") officially signed an asset management contract to provide comprehensive asset management services for Changsha Lehe City Shopping Center, a joint venture between Canada's billionaire bridge company and Bailian Group!

Lehe City Shopping Center ("Lehe City") is located in Wuyi Square, the most dynamic business district in Changsha City, Hunan Province. The shopping center has 7 floors with a total construction area of about 80000 square meters. As a large shopping center integrating shopping, catering, leisure and entertainment, Lehe City has first-class facilities, comfortable shopping environment and unique trend brand. With "brand new, fashionable and unique" as its positioning, it provides a brand-new "Mall life" shopping experience for Hunan consumers.

The addition of Lehe City is a solid step taken by Bailey City in Central China after taking over Wuhan Baibuting Commercial Plaza and Wuhan Rongqiao City.

About Burley City

As a professional asset management company, Burley City provides full asset management services for commercial real estate companies at home and abroad. The company currently has a comprehensive management area of more than 4 million square meters, of which the commercial area is more than 2 million square meters. The core team members of the company have served in CapitaLand Singapore, Simon Real Estate Group and India Power Group, and have rich experience in the operation and management of mature commercial projects.

About Billions of Haojian Bridge

Billionaire Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It adheres to the prudent investment philosophy and optimizes the risk-adjusted return on investment from a long-term perspective. Since its founding in Quebec in 1953, Billionaire Cambridge has created a full range of real estate consolidation operations in Canada. In the international market, it partners with industry leaders in the corresponding fields and invests together.

Through its subsidiaries and partnerships, Billionaire Cambridge owns interests in nearly 500 properties, including office, commercial retail, residential, and logistics real estate, with total assets of more than $55 billion as of June 30, 2016. Billionaire Cambridge is the real estate subsidiary of one of Canada's largest fund managers, the Quebec Savings and Investment Group (Caisse de dépôt et placement du Québec)(cdpq.com).

About Bailian Group

Bailian Group is a large state-owned key enterprise in Shanghai, China. It is a large state-owned commercial circulation industry group merged and reorganized by the former Shanghai Hundred Group, Hualian Group, Friendship Group, and Material Group. It was established on April 24, 2003. Bailian Group has a registered capital of 1 billion yuan and total assets of 80 billion yuan. The main business covers theme department stores, shopping centers, outlets, large stores, standard supermarkets, convenience stores, professional monopoly and other retail formats.

　　PRM Entering Asset Management Contract

-Magnificent Presence to Change La Nova Shopping Mall

　　February 13, 2017 - Parcmall Retail Management (PRM) has officially signed an Asset Management Agreement providing full scope services for Changsha La Nova Shopping Mall, which is a joint venture project owned by Canada’s Ivanhoé Cambridge and Bailian Group.

　　La Nova Shopping Mall (“La Nova”) is located in Wuyi Square, the most vibrant shopping district in Changsha, Hunan, China. It consists of seven floors with a GFA of approximately 80,000 square meters comprising shopping, F&B, leisure, and entertainment elements. La Nova provides state-of-the-art facilities, a comfortable and pleasant shopping environment and exclusive fashion brands. Being positioned as “new, stylish and unique”, La Nova brings a brand new “Mall Life” shopping experience to the Hunan consumers.

　　With this new addition to its Central China portfolio that already includes two other shopping malls, namely Wuhan BBT and Wuhan Rongqiao City, PRM continues to expand its solid and strong presence in this region.

　　About PRM

　　As a professional asset management company, PRM provides complete sets of asset management services for commercial property companies domestically and overseas. The gross area managed by the company’s active projects sums up to over 4,000,000 square meters included over 2,000,000 square meters of shopping malls. The company’s main team members had serviced Capitaland, Simon Property Group, and SCPG; they are rich in experienced in mature commercial project operation and management.

About Ivanhoé Cambridge

　　Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets.

　　Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in close to 500 properties, consisting primarily in office, retail, residential and logistics real estate. Ivanhoé Cambridge held more than Cdn$55 billion in assets as at June 30, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers.

　　About Bailian Group

　　Bailian Group is a large state-owned enterprise in Shanghai. Founded on April 24, 2003, Bailian (Group) Co., Ltd. is a consolidated company among Shanghai Yibai (Group) Co. Ltd., Hualian (Group) Co., Ltd., Shanghai Friendship (Group) Co., Ltd. and Shanghai Materials (Group) Corporation. Bailian registered capital of 1 billion yuan, the total assets of 80 billion yuan. The main business covers department stores, shopping malls, outlet, large stores, supermarket, convenience stores, specialty retail formats.