E-Shang Redwood (ESR) has been backed with $300m (鈧�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 鈥渋mportant endorsement鈥� of ESR, as well as of the growth potential of logistics real estate and modern warehousing in China and across Asia.
鈥淭he company,鈥� he added, 鈥渋s well positioned to further accelerate its growth and solidify its market-leading position across Asia over the next few years.鈥�
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: 鈥淢odern warehousing will continue to benefit from the rapid development of e-commerce and the transformation of the retail sector in Asia.鈥�
ESR was formed as a result of a merger between e-Shang and Redwood in .
