JD Property Group Corporation agreed to acquire 18.16% stake in China Logistics Property Holdings Co., Ltd (SEHK:1589) from ESR Cayman Limited (SEHK:1821) for HKD 2.7 billion on May 23, 2022. As per the transaction, ESR Cayman Limited will sell 630,866,000 shares at HKD 4.35 per share. With the transaction proceeds, ESR Group is well-positioned to have a record capital recycling year as we further position ourselves to take advantage of what is likely to become a very compelling investing environment where we can leverage the strength of our best-in-class platform, balance sheet, capital partners and customers to deliver long-term sustainable growth.