An undisclosed real estate fund entered into the share purchase deed to acquire The Neo Metropolis Plaza Property from Yuexiu Real Estate Investment Trust (SEHK:405) for CNY 1.2 billion on December 14, 2018. Buyer will pay CNY 165 million as loan consideration, on or prior to the date of execution of the share purchase deed will pay CNY 118 million as initial payment and remaining will be paid upon completion. As of December 31, 2017, The Neo Metropolis Plaza Property reported total assets of CNY 1.3 billion, net asset value of CNY 647 million, total revenue of CNY 71.7 million and net property income of CNY 57.7 million. The transaction is expected to close on December 21, 2018, or such earlier or later date as may be agreed by the parties to the transaction. Yuexiu Real Estate intends to use the net proceeds from the sale to pay in full the deferred consideration for Yuexiu Real Estate’s acquisition of 67% of the Wuhan property with the remaining net proceeds to be used for funding potential future acquisition opportunities. As on September 13, 2019, the final acquisition price was determined to be approximately CNY1.1 billion. United Overseas Bank Limited as escrow agent in the transaction.