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Market Chatter: US Asset Managers KKR, AEW to Offload Chinese Real Estate Assets

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U.S. asset managers KKR & Co. and AEW Capital Management are considering to dispose of their real estate holdings in China as the country's housing market remains in a slump, according to a Bloomberg News report on Monday, citing insiders.

KKR seeks to offload nine projects, including a Beijing multi-family apartment complex and a Shanghai mid-market hotel along the Bund waterfront, the insiders told the media outlet.

AEW plans to sell its office tower in the HeXa International Plaza, its property in Beijing's Jing IN International Center and the Shanghai Pudong Development Bank (SHA:600000) building in the Lujiazui business district, the report said.

Both KKR and AEW expect that the proceeds will be able to cover 50% to 60% of the bank loans used to buy the properties, according to the report.

KKR and AEW did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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