E-Shang Redwood (ESR) has been backed with $300m (β¬287m) by a group of Chinese investors ahead of a listing.
GF Investments, Huarong International, Huarong Rongde, SPDB International, China Everbright, Everbright Securities and CMBC International backed ESR prior to its planned listing.
Jeffrey Shen, co-chief executive at ESR, which focuses on Asian warehouses, said the investment by the Chinese consortium was an βimportant endorsementβ of ESR, as well as of the growth potential of logistics real estate and modern warehousing in China and across Asia.
βThe company,β he added, βis well positioned to further accelerate its growth and solidify its market-leading position across Asia over the next few years.β
ESR, which has 6.5m sqm of projects in operation or under development in China, Japan and South Korea, has a further 6m sqm in the pipeline.
Elyn Xu, head of structured finance at GF Holdings, said: βModern warehousing will continue to benefit from the rapid development of e-commerce and the transformation of the retail sector in Asia.β
ESR was formed as a result of a merger between e-Shang and Redwood in .
