Achievements | Zhonglun W&D Assists Shoucheng Holdings Limited in Issuing China’s First Parking Asset REITs

On June 27, 2023, Shoucheng Holdings Limited successfully issued China’s first parking asset REITs—the “Guojun Wealth Investment·Shoucheng Holdings Smart Parking Asset-Backed Securities”. The underlying assets for this product are four parking facilities located in Beijing, Chengdu, and Foshan. It has a senior tranche size of RMB 210 million and an issuance term of 21 years (3+3+3+3+3+3+3).

This issuance marks a significant step for Shoucheng Holdings Limited in achieving the industrial cycle of asset securitization for its portfolio, while also setting a new benchmark for the industry.

Min Li, Deputy Director and Senior Partner of Zhonglun W&D Law Firm, led this project. The team, comprised of attorneys Bingmei Zhang, Jiazhan Shi, and Qianyu Xu, delivered comprehensive, professional, and highly efficient legal services throughout the process, contributing significantly to the successful issuance of this asset-backed security. Their work primarily involved conducting legal due diligence on the underlying assets, drafting and revising transaction documents, and issuing legal opinions.

 

Min Li

 Practice Areas:

Trust, Asset Securitization, Insurance Capital Investment, Real Estate & Construction, Litigation & Arbitration .