Insights > Deals
China Merchants Commercial REIT announced the acquisition of a brand-new asset in Hung Hom
31 August 2026 | Asset acquisition | Hong Kong | 205 beds | Operational
Acquisition of 205‑bed The Quad will give CMC REIT a second operating student asset in Kowloon and advance its move into resilient income-producing sectors.
Key details
Asset type | Operational |
Location | Hong Kong |
Capacity | 205 beds |
Seller | Easyknit International Holdings |
Buyer | China Merchants Commercial REIT / Welkin Links Capital / BentallGreenOak China Holdings |
Value | HK$528.5 million |
Adviser | Dentons |
Source: Easyknit Group
The consortium is acquiring the company that owns The Quad at 470‑478 Chatham Road North in Hung Hom from Easyknit International Holdings. Completed in 2025, the 25‑storey property provides 184 units and 205 beds alongside ground‑floor retail and operates under Hong Kong's Hostels in the City programme.
Main leasing for the 2026/27 academic year was substantially completed when the transaction was announced, allowing the property to contribute income on completion.
The agreed price represents a 7.2% discount to the independent appraisal of HK$569.4 million.
Strategic context
The Quad will be CMC REIT's second Hong Kong student accommodation asset after its acquisition of CM+U in Tsim Sha Tsui at the end of 2025. The transaction advances the REIT's Strategy 2.0 by diversifying its office- and retail‑led portfolio into a sector supported by rising non‑local university enrolment.
A second Kowloon asset also creates scope for operating and leasing synergies across the platform.
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