Mapletree launches first China onshore logistics fund at 1.5B yuan
What's the deal? Mapletree InvestmentsDealroom has a profile for this one. Try Dealroom → has launched its first China onshore logistics renminbi fund, managed with China Life Capital, holding about 1.5 billion yuan ($221.6 million) in assets under management. The fund has secured commitments from international insurance companies.
What's inside? It holds five stabilised logistics assets in Nanjing, Wuxi, and Chengdu, spanning about 382,000m² with a 95% average occupancy rate. The properties sit in the Yangtze River Delta and Chengdu-Chongqing economic regions and are leased to third-party logistics providers, e-commerce operators, and advanced manufacturing companies.
Why now? Two of the Wuxi assets came from Mapletree Logistics TrustDealroom has a profile for this one. Try Dealroom →, which on July 22 proposed divesting the warehouses to the new fund for a combined 724 million yuan. The move is part of the trust's capital recycling strategy.
What's the endgame? Mapletree wants to recycle capital to strengthen its finances and fund future growth. It is exploring onshore syndication, potential C-Reit (China real estate investment trust) listings, and alternative structures such as private Reits and quasi-Reits.
Goh Chye Boon, regional chief executive officer of Mapletree China, said the group is "encouraged by the improving investment environment in China's real estate sector and the growing momentum in logistics park transactions."
The new fund follows the Mapletree China Logistics Investment Private Fund, launched in December 2022. As at end-March 2026, that fund's portfolio held 43 Grade A logistics assets with a 92% committed occupancy rate. Since entering China in 2006, Mapletree has developed and operated over 10 million m² of logistics space across 130 properties.
The signal: The onshore vehicle reflects a broader "China-for-China" shift, as asset managers tap domestic and insurance capital to fund local real estate deals amid a recovering property market.
Read more: The Business Times
Image credit: PughPugh
