SINGAPORE (EDGEPROP) - Singapore-headquartered private equity real estate firm SC Capital Partners has acquired industrial land in China's Suzhou Industrial Park. The acquisition was jointly made with Shanghai-based industrial and logistics developer THi Holding Management Corp.

According to a May 15 press release, the partners acquired a rectangular plot of land measuring over 50,000 sq m (538,196 sq ft). SC Capital Partners and THi intend to develop the project into a Grade-A industrial facility targeting high-end manufacturers. The completed facility will offer over 103,000 sq m (1.1 million sq ft) in net lettable area, with the rooftops equipped with solar panels. Zero Point, an electric vehicle battery pack company, has been secured as the anchor tenant.

The acquisition marks SC Capital Partners' second investment in Suzhou Industrial Park, a manufacturing and logistics hub. Suchad Chiaranussati, chairman and founder of SC Capital Partners, says the transaction strengthens its collaboration with THi in pursuing growth opportunities in the industrial and logistics sector in the Yangtze River Delta, adding: “This new asset in Suzhou Industrial Park is an excellent addition to our opportunistic fund series, which invests in the developed markets in the Asia Pacific.”

Sarah Hu, director and general manager of THi Management, says demand for regional industrial and logistics assets is expected to remain resilient. “Working with strategic partners who have established connections and expertise on the ground is essential for the successful execution of strategies for investment managers,” she adds.