Case of Real Estate Development and Transfer: Real Estate Development and Equity Transfer of Nanjing World Trade Center

One famous US real estate development group was authorized by WTCA to develop and operate world trade centers in Nanjing and the other cities of China; therefore, the group acquired a large plot located in Hexi area of Nanjing through joint bidding with a Chinese real estate fund of JP Morgan to develop and construct a city complex with residence, commerce and hotel, etc.

As the legal consultant of the US real estate group, legal team of Chambers Yang has not only provided full-scale legal services on the cooperation program of the group and the Chinese real estate fund of JP Morgan, overseas structure design, financing program, etc., but has also provided relevant legal services for its investment portfolio to enter into China to establish WFOE.  Thanks to the strengths and financing power of both parties, the project development has run very smoothly.  However, the project has not yet been completed when the investment term of Chinese real estate fund of JP Morgan is expiring due to the big size of the development volume; therefore, both parties jointly brought in third party investor and confirmed with the investor through negotiation that the Chinese real estate fund of JP Morgan fully exited firstly and the US real estate group simultaneously exited partly to meet the requirement of the investor to control over the project. Legal team of Chambers Yang has provided the legal services on transaction structure design, legal documents production, etc. which realized the purposes of each party via overseas equity transfer.  Meanwhile, legal team of Chambers Yang has suggested that the US real estate group retain the option to further transfer the rest of the equity to protect its interest as a minority shareholder.  And, the US real estate group transferred the rest of equity two years later to acquire large amount of return on investment.

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