China life Successfully Invests in the Manhattan Landmark

Recently, another overseas real estate project of China Lifewas delivered. China Life Investment Holding Company Limited, a professional alternative investment platform of  ChinaLife, was entrusted to complete the acquisition of the landmark office building project at No. 1285, Avenue of the Americas, Manhattan with RXR and other investment institutions. China Life is the single largest investment institution of the project, and RXR is the asset manager for this project.

The core high-quality office building project at No. 1285, Avenueof the Americas, Manhattan is one of the largest real estate investment projects in New York this year. The project is another landmark real estate investment project in the core city of US following China Life’s successful investmentin Boston complex development project and US logistics assets package project.A new breakthrough of China Life in real estate investment layout in the UnitedStates was made.

The project is located in the core position. The tenants arehigh- quality. There is the stable rental income, and the future appreciation potential is tremendous. The overall area of the building is about 1,800,000square feet. With 39 floors, it is located in the core region of midtown Manhattan, New York, and only a few hundred meters away from Times Square and CentralPark. It is one of the landmark buildings in Manhattan. The occupancy rate of the project is 100%. The biggest tenant is North American head quarters of UBS. The leasing area is more than 90 square feet. Upon completion of the project purchasing, UBS renewed the lease until 2032 synchronously. The other two maintenants are a large law firm and the global head quarters of an internation almedia group.