Bloomberg reported on Tuesday (December 2) that Asia-Pacific real estate investment group ESR is considering selling some of its assets in mainland China to focus resources on developing other markets.
ESR is the largest real estate management company in the Asia-Pacific region and the third largest publicly traded real estate investment management company globally.
According to sources familiar with the matter, the company is planning to hire consultants to assist in evaluating the sale of these assets – which could be sold individually or as a package deal, with the potential transaction amount reaching several billion US dollars. Due to the involvement of internal information, the sources requested anonymity.
One of the sources noted that despite the potential risks of selling assets, ESR is still exploring new growth and investment opportunities in China.
ESR’s annual report for 2024 shows that around 27% of its revenue comes from Greater China, 25% from Australia and New Zealand, and 22% from Southeast Asia.
Its website indicates that ESR manages assets worth around $30 billion in Greater China, including logistics parks across mainland China, data centers in Hong Kong, shopping centers and office buildings in Shanghai, as well as a life sciences facility. ESR holds real estate assets across Asia and has branches in Europe.
In June 2025, a consortium composed of Warburg Pincus, Sixth Street Partners, SSW Partners, HOPU Investment Management, Qatar Investment Authority, and ESR’s founders approved a privatization acquisition of ESR for approximately $7 billion. ESR subsequently delisted from the Hong Kong Stock Exchange and became a privately held entity.
Sources mentioned that discussions regarding the Chinese assets are still in the preliminary stages and a sales agreement may ultimately not be reached.
ESR did not respond to requests for comments.
According to Bloomberg’s report in October, over the past 15 years, foreign real estate buyers have invested nearly $140 billion in the Chinese real estate market, targeting office buildings, warehouses, shopping centers, and data centers, among others. With market fluctuations, many investors are currently seeking to exit.