ARA sets up Harmony 6 fund to invest in $4 bil Shanghai development

SINGAPORE (Oct 26): ARA Asset Management has established its ARA Harmony VI fund on Wednesday, to invest in a newly-completed premium grade integrated commercial property, Century Link, worth RMB 20 billion ($4.1 billion).

Located in the Lujiazui Finance and Trade Zone in Pudong, Shanghai, Century Link has a total gross floor area of 362,361 sqm and comprises two office towers, a retail podium and a carpark with over 1,200 parking spaces. The property sits directly above the city’s four subway line interchange hub, and will be managed by APM China, a property management subsidiary of ARA.

Harmony VI is anchored by an established insurer, minority owned by Peninsula Investment Partners, L.P. and Peninsula Co-Investment Holdings I (Century), L.P., and has an initial term of 10 years with a provision for extension. The fund will be managed by ARA Fund Management Mapleleaf, ARA’s wholly owned subsidiary.

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