CTF Services acquires interest in three industrial logistics properties in Yangtze River Delta

CTF Services (0659) has acquired 100 percent interest in three industrial logistics properties in East China from a fund under TPG Angelo Gordon, the group announced.

The three industrial logistics properties have a total leasable area of ​​approximately 1.72 million square feet, and are strategically located in the core economic hub of the Yangtze River Delta. 

The group expects the transaction to contribute stable cash flow to support its long-term development.

Following this acquisition, CTF Services’ logistics assets in mainland China and Hong Kong will increase from nine to twelve, with a total leasable area expanding from approximately 12.79 million sq ft to approximately 14.51 million sq ft.

The group currently holds nine logistics assets in Hong Kong, Chengdu, Wuhan, Suzhou, and Dongguan.

The group stated that this move expands its asset scale, strengthens its strategic layout in the core Yangtze River Delta region, and improves its mainland logistics network.

CTF Services stated that all newly acquired properties are equipped with sustainable development facilities and have achieved LEED Gold certification, meeting industry-leading standards and demonstrating the group’s commitment to ESG investments. 

Executive director and group co-chief Brian Cheng Chi-ming stated that this acquisition aligns with the group’s investment strategy, as the company has sought high-quality logistics assets with stable cash flow and ideal returns to enhance its asset portfolio and leverage synergies. 

This expansion into the Yangtze River Delta region follows the group's entry into the Greater Bay Area last September, further consolidating the company's asset portfolio in key economic zones of mainland China.