Blackstone’s property arm has completed its latest Asian transaction, buying a 40 per cent stake in SCP, a Shenzhen-based shopping mall company that is one of the largest in China, according to people familiar with the matter.
The size of the SCP deal is not known. However, people familiar with the matter said that Blackstone had invested about $400m.
The transaction comes as many Chinese property groups are suffering from borrowing restrictions, particularly to finance land acquisitions, providing opportunities for investors such as Blackstone.
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