New Ease and Goldman Sachs jointly acquire $488 million of logistics assets

Published On: 13 Jul 2021Categories: News

SHANGHAI, CHINA July 13, 2021 – New Ease, China’s leading intelligent new economy infrastructure developer and operator, and Goldman Sachs Asset Management announced the joint acquisition of two collection of logistics real estate projects in gateway cities throughout China with a total asset value of $488 million. New Ease, as the investment and asset manager, will provide best-in-class asset management services for these projects.

The first collection of the properties jointly acquired and developed by New Ease and Goldman Sachs Asset Management are institutional-grade, modern warehouse properties located in Kunshan City, Jiangsu, Zhengzhou City, He’nan, and Sanhe City, Hebei. They have been built to meet the warehousing demand from third-party logistics providers, cold chain operators and e-commerce companies. The Zhengzhou project is currently operational. The Kunshan and Sanhe-based projects are expected to be fully functional by the fourth quarter of 2021.

The second collection of the properties are located in Hebei and Hubei, both of which are major logistics hubs in China. The projects will be developed into institutional-grade, modern logistics facilities to meet the rising demand from e-commerce companies and third-party logistics providers, and also to contribute to the overall economic development of central China and the Greater Beijing Area.

Through these the successful joint investment projects by New Ease and Goldman Sachs Asset Management, both parties look forward to exploring more cooperation opportunities.

Mr. Luke Wei, a managing director at Goldman Sachs Asset Management responsible for real estate investment in Greater China, commented, “The continued development of China’s economy, especially through the rapid pace of advanced digitalization of commerce, has further accelerated the development of the logistics warehousing industry and accompanying integrated services. New Ease has strong local capabilities and we look forward to more collaboration in the future.”

Mr. Sun Dongping, the Founder and Chairman of New Ease, said, “We are excited to collaborate with Goldman Sachs, one of the world’s leading investors with deep industry insight. We view the collaboration with Goldman Sachs Asset Management as recognition of New Ease’s capabilities and strong track record in developing first-class new economy infrastructure throughout China.”

About New Ease (

Headquartered in Shanghai, New Ease, is an industry-leading new economy infrastructure investor, developer and manager focused on investing and building a portfolio of institutional-grade logistics facilities located in the gateway cities in China. Co-founded by Warburg Pincus and Mr. Sun Dongping in 2018, New Ease now is managing a portfolio of over 6 million square meters of projects that are in operation or under development. It has a total asset under management of approximately $5 billion and established multiple ventures with global leading investors. With a seasoned management team of former executives from global real estate funds and logistics property developers, New Ease provides a comprehensive capabilities spanning from acquisition, development and construction to asset and fund management.

About Goldman Sachs Asset Management Real Estate

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.  Established in 1991, the Real Estate business within Goldman Sachs Asset Management is one of the largest investors in real estate with over $50 billion in assets invested since 2012 across the spectrum of investment strategies from core to opportunistic.  Our global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity. Follow us on LinkedIn.


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