Phoenix Property Investors

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Phoenix Property Investors Limited
Native name
豐泰地產投資有限公司
Company type Private
Industry Private equity real estate
Founded2002;23 years ago (2002) [1]
FoundersSamuel Chu
Benjamin Lee [1]
HeadquartersHong Kong
AUM US$7.2 billion (2024) [2]
Number of employees
150 (2024) [2]
Website www.ppinvestors.com

Phoenix Property Investors ("Phoenix") is a real estate investment firm headquartered in Hong Kong. In 2022, IREI ranked Phoenix as the tenth largest real estate manager in Asia based on assets under management (AUM). [3]

Contents

Background

Phoenix was founded in 2002 by Samuel Chu and Benjamin Lee. [1] The firm takes a value driven approach to investing in real estate in and works with institutional clients such as sovereign wealth funds, pension funds and insurance companies. [1]

Phoenix has investments across 18 cities across Asia in countries such as China, Japan, Korea and Australia. [1] While investments are predominately in North Asia, Phoenix has also been growing its investments in Southeast Asia. [4] The firm is headquartered in Hong Kong with additional offices in China, Japan, Korea, Singapore, Taiwan and Australia. [5]

In 2020, Phoenix had to restructure its financing for investments in Beijing and Shanghai due to market turndown caused by the COVID-19 pandemic. [6] [7]

In May 2022, Phoenix sued WeWork for abandoning a 10 year commitment to Tower 535 in Hong Kong. Phoenix demanded a payment of about HK$242 million (US$30.8 million) on the alleged breach of contract. [8]

In June 2023, Phoenix and Lendlease entered a joint venture to develop a A$185 million logistics facility in Australia. [9]

In January 2024, it was reported that for Phoenix's seventh opportunity fund, it removed mainland China from its strategy. Phoenix was responding to its investors' preference to avoid political risk associated with exposure to assets in China. However it was expected to not have a significant impact as China exposure had not exceeded 15% of the firm's AUM since 2010 and Phoenix had not invested in China for a while. In addition investors saw that there could be better risk adjusted returns from more developed markets in Asia such as Australia, Japan South Korea. [10]

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References

  1. 1 2 3 4 5 Asia, Tatler. "Samuel Chu". Tatler Asia. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  2. 1 2 "Home – Phoenix Property Investors". www.ppinvestors.com. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  3. ↑ "Institutional Real Estate, Inc. – Global Investment Managers 2022" (PDF). 15 October 2022. Archived from the original (PDF) on 15 October 2022. Retrieved 15 October 2022.
  4. ↑ Sito, Peggy (26 November 2014). "Phoenix Property Investors eyes new opportunities in Southeast Asia". South China Morning Post. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  5. ↑ "Contact – Phoenix Property Investors". www.ppinvestors.com. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  6. ↑ Sito, Peggy (26 June 2020). "Hong Kong property fund in distress trap as trade war, virus hit China bets". South China Morning Post. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  7. ↑ Hatton, James (28 May 2020). "Phoenix in Danger of Defaulting on Shanghai Office Project". Mingtiandi. Archived from the original on 15 October 2022. Retrieved 15 October 2022.
  8. ↑ Laothamatas, Pawara (3 May 2022). "Phoenix Property Investors Sues WeWork Over Broken Lease". Mingtiandi. Retrieved 16 January 2025.
  9. ↑ Laforga, Beatrice (15 June 2023). "Phoenix, Lendlease Form Sydney Industrial JV". Mingtiandi. Archived from the original on 8 January 2024. Retrieved 8 January 2024.
  10. ↑ Brasse, Jonathan (15 January 2024). "Phoenix removes China from the strategy of its seventh opportunity fund". PERE. Archived from the original on 17 January 2024. Retrieved 22 January 2024.
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