We provide end-to-end legal services for public REITs and Pre-REITs projects, from structuring and launch to operation and exit. Our clients include originators, fund managers, institutional investors, and intermediaries. We help identify legal risks, optimize transaction structures, and ensure regulatory compliance throughout the product lifecycle.
Feasibility review and structuring of public REITs
We assess project feasibility, map out transaction structures, analyze regulatory policies, and design compliant and efficient issuance frameworks.
Due diligence, title verification, and defect resolution for underlying assets
We conduct full-cycle legal due diligence on real estate or infrastructure assets, verify asset title and resolve potential legal defects that may affect asset compliance, transferability, or valuation.
Asset screening, valuation support, and tax structuring
We assist with asset selection and transaction pricing mechanisms, and design structuring and transfer strategies, including qualified REIT structures, SPV-level tax treatment, and fund-level distribution planning.
Drafting and reviewing offering and transaction documents
We draft and review key documents such as subscription agreements, asset transfer agreements, and offering circulars, clearly delineating the roles and responsibilities of each party and controlling operational risks.
Regulatory filings and exchange inquiries
We support the legal review process by the CSRC and stock exchanges, including drafting responses to regulatory inquiries and preparing board/shareholder meeting documents and filing materials.
Investor suitability, disclosure, and conflict management mechanisms
We help establish compliant investor screening protocols, ensure appropriate disclosures, and design mechanisms to manage conflicts of interest.
Compliance advisory and refinancing during REIT operation
We assist with compliance and structuring of follow-on offerings, additional unit issuances, and new asset contributions throughout the operational phase.
Exit structuring and coordination with original equity holders
We design repurchase mechanisms, asset return arrangements, change-of-use strategies, and structural adjustments related to asset or fund management.
Pre-REIT structuring and legal support
We advise on the establishment, registration, and operation of Pre-REIT products, including fund structuring, manager registration, fund filing, transaction document drafting, antitrust filings, and co-investment and incentive mechanisms. We also handle the legal transition between Pre-REITs and public REITs, including asset transparency, restructuring, tax treatment, and regulatory filings.
Offshore REIT issuance support
We evaluate tax costs and compliance risks under different structuring options, and assist in optimizing dividend distribution mechanisms and cross-border tax arrangements. We advise Chinese enterprises on launching REITs in overseas markets such as Singapore and Hong Kong. Our services include asset selection, cross-border structuring, due diligence, prospectus drafting, memorandum preparation, regulatory filings, and responding to exchange inquiries.
