The Zhengzhou Real Estate Relief Fund allows Jianye to go first

Economic Observation Network reporter Chen Yueqin on August 9th, Zhengzhou's first single project was landed on the first single project of the Ten Million Real Estate Real Estate Relief Fund. At this time, only 4 days have been officially released from the "Zhengzhou Real Estate Lift Fund" (hereinafter referred to as the "Plan").

Chen Huai, an executive of a certain housing company in Zhengzhou, revealed that on August 6, Zhengzhou and various district housing construction departments organized a number of housing companies to meet and sorted out the first batch of projects in the area in the area. The number is 15, which will be submitted to the Office of the Zhengzhou Industrial Development Fund Management Committee. As of August 10, the list of the first batch of bailout buildings had increased to 45, involving Evergrande, Oza, Sunac, Greenland, Hanhai, Haochuang, Kangqiao, Mingmen, US businesslits, Xinyuan and other real estate companies. project. Jianye Beilonghu Financial Island office project is not on the list.

At the beginning of the "Plan", the background and purpose of establishing a bailout fund: in order to implement a package of policy and measures that the State Council's solid economy and stabilize the economy, and try their best to solve the difficulty of the urgency of the funding chain of the real estate enterprise, "alleviate the current real estate project's suspension of the mortgage monthly supply of the mortgage monthly supply. Highlight social problems and systemic financial risks "and boost market confidence.

The pressure of insurance delivery and suspension to Zhengzhou is self -evident.

However, a office project of the first Shanhua Luo Jianye Group in the first Shanhua Fund made the real estate company who was looking forward to the next step in the next step of the bailout fund, including Chen Huai: Why is Jianye? Why is an office project?

According to the "Plan", the scale of the special fund for bailout is tentatively set by 10 billion yuan. It is operated by the mother -child fund. It also needs to attract different types of social capital to jointly invest in the establishment of sub -funds. The main body of the mother fund is Zhengzhou National Central City Fund, and its major shareholders are Zhengzhou Zhongdechuang Industrial Investment Co., Ltd..

A person familiar with the fund architecture introduced that Zhengzhou's special fund is a market -oriented fund. The current plan is 20%of the parent fund. "Money," These 40%of money are equivalent to inferior funds in financing, and then leverage social capital or financial institutions to free up 60%of the money, and finally set up a SPV company (special purpose entity), and the previous equity financing of the project The mode is almost the same. "

The person familiar with the fund architecture further supplemented. The source of funds of the parent fund is Zhengzhou Real Estate Group and Henan Asset Management Co., Ltd., which is equivalent to 10 billion yuan in the provincial and municipal platform companies.

The project supported by the first single fund is the office building of Jianye Group on Beilonghu Financial Island. Jianye Real Estate's 2021 financial report disclosed that Zhengzhou Financial Island underwent an area of ​​about 840,000 square meters, and the property type was commercial.

Public information shows that the construction company of Beilonghu Financial Island is Zhengzhou Financial Island Construction and Development Group Co., Ltd., which is currently by Chongqing Xiexinyuan Innovation Co., Ltd., Henan Donglong Holding Group Co., Ltd., and Jianye Real Estate Henan The investment fund center holds 40%, 40%, and 20%respectively.

Chen Huai explained that it was only an office project held by Jianye Group in Beilonghu Financial Island that was only obtained by the bailout fund. The project company was Zhengzhou Xiesheng Real Estate Co., Ltd.

He believes that Beilonghu Financial Island can obtain the first single bailout fund, which has certain specialty, and its model is not applicable to other buildings to be relieved. "Normal bailout funds only need to help the project to solve the problem of liquidity. The government's funds have withdrawn in the later period. However, the first single project in Zhengzhou is essentially a office building for Zhengzhou Real Estate Group to acquire 100%of Jianye's shares. After using the channel of the bailout fund, Jianye finally completed the exit of the office project. "Chen Huai introduced that Zhengzhou Real Estate Group has completed its due diligence in the project in the early stage. Real Estate Group) will also buy it.

According to the information of Tianyancha, on August 4, the controller of Xiesheng Real Estate has changed from Henan Jianye Investment Holding Co., Ltd. to Zhengzhou Real Estate Group Co., Ltd., and executive directors and supervisors have also completed a round of changes. At this point, Jianye "retreats" on the project.

The "Plan" sets a strict threshold for the real estate. The remaining sale value is sufficient to cover the initial liabilities and project principal and interest projects. "

In the condition of "funding can be debt", Chen Huai revealed that the project project of Beilonghu Financial Island office building was basically in line, because the government stipulated that when the project was transferred, the government stipulated Still in the construction stage. "Although it is an office building, the location is good, and the set is not sold. There are no pre -sale funds that are misappropriated, property rights and debt are complicated, which is considered a high -quality asset." Zhengzhou Real Estate Group has completed the acquisition of the project at the end of June. Essence

Chen Huai's company reported several projects. Whether he could land in the future, he also had a conservative attitude. The bailout requires the investment of social capital and financial institutions. Projects with unable to sell but have a large value in the later period, rely on the fund staged to help the enterprise. "But the paradox is that the upstream and downstream and financial institutions will not be particularly worried about such projects. The rescue real estate is due to the gap between the funds and the pressure of the house is relatively high. Chen Huai said that Zhengzhou's relevant departments have recently been very positive for real estate rescue. They have repeatedly found companies to discuss, but when they match the financial solutions, it is difficult for the project to meet the requirements.

It is reported that the relevant departments of Henan Province have led the establishment of a special class for bailout Jianye Group. The current relief ideas are mainly divided into three aspects: First, Henan Wendou Company came to acquire Jianye's film town, football town, etc. Heavy asset projects; the second is to introduce Henan Tongsheng Real Estate Co., Ltd., a real estate business platform of Henan Railway Jianchu Group as a combat investment, acquired some of the equity of Jianye and convertible bonds issued by Jianye to make guarantee financing for Jianye The issue of liquidity; Third, the Zhengzhou Real Estate Group's acquisition of Jianye's part of the project in Zhengzhou can activate the project.

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