Charles Wu is a senior expert in real estate industry with professional competence and over 28 years of practical experience. His extensive practice covers various of business, including commercial property, residential property, hospitality industry, urban complex, preservation of historic buildings, TOD projects, industrial park, tourism property, joint office, youth-oriented hotels, pension real estate, property management, renovation of old buildings, urban renewal, real estate crowdfunding, urban infrastructure construction (BOT\ BT\ PPP), as well as investment of special entities.
In terms of the project phases, he engages in the whole process from fund raising, investment and property management to exit, which comprises project filings, fund raising, property planning, primary development, acquisition of land use right, financing, construction, operation management, lease and sale, withdrawal etc.
With respect to the practice areas, he provides a comprehensive range of legal services from design of transaction structure, solutions for structured financing, re-engineering of business process, risk management, partner program, equity incentives, in-depth due diligence, transaction negotiation, choice of applicable law and dispute resolution in the context of cross-border transactions, taxation, M&A, restructuring, domestic and overseas REITs and crowdfunding to cross-border dispute resolution etc.
Guokai Chuansha Case:
The “Guokai Chuansha” case stemmed from Liuzao distinct town project, which was jointly constructed by Chuansha New Town Government and social capital. Guokai Chuansha Project Company was established by the aforesaid government and social capital to be responsible for the tract development of such project while the government shall provide financial support with its land grant income. However, the government then suspended the cooperation for reasons such as policies adjustment and refused to pay the investment and construction expenses, thus Guokai Chuansha Project Company was confronted with huge losses. With Charles Wu’s assistance, the development funds claimed by Guokai Chuansha Project Company were fully supported after the first instance by Shanghai High People's Court and the second instance by the Supreme People's Court of the PRC.
North Bund No.89 Plot Project:
North Bund No.89 Plot Project, which is located at North Bund, Hongkou District, Shanghai, with a total construction area of over 230,000 square meters, is reckoned as a large-scale comprehensive urban project comprising "business, commercial and cultural" functions. The project is invested by Shangshi Industrial Development Co Ltd., and Mori Building Co Ltd., Charles Wu assisted Mori Building in investing the project in the manner of capital increase and subscription in 2016 and completing the exit of such investment during 2021-2022. This transaction has a total investment of RMB 8.7 billion, making it the largest commercial and business real estate transaction of 2022 in Shanghai and even in Greater China.
Zhongxing Road Urban Renovation Project：
Our client obtained the development rights of a certain renovation project located in Jing'an district in 2003, whereas the corresponding demolition and construction project had not been completed due to certain historical reasons. In 2019, such project was supposed to be restarted upon the requirement of the competent Municipal Government and District Government. With Charles Wu’s assistance, our client eventually solved the dilemma of financial balance induced by the soaring costs of relocation and demolition and finally facilitated the progress of the project in the manner of cooperating with local SOEs to establish new project entities, obtaining comprehensive syndicated loans, and applying for altering the planning indicators in accordance with the norms regulating urban renovation, etc.
Since 2016, Charles Wu has provided comprehensive legal services for a number of commercial centres and office buildings invested by Hong Kong Lee Kum Kee Group (LKK) in Shanghai and Guangzhou for 7 years, including operation strategies, asset management, dispute resolution, etc. In these projects with a total area of more than 300,000 square meters, Charles Wu provided solutions to the legal issues of LKK’s concerns, including (1) selecting and evaluating property management partners, (2) formulating property management systems and remuneration mechanisms, (3) assisting in the handover of property companies, (4) supporting LKK in negotiating large tenants, (5) handling emergencies, etc. In the past 7 years, Charles has also been entrusted by LKK in several housing lease cases and has obtained favourable judgments.
The Golden Sunshine Nursing Home, operated by the project company that was entrusted by Shanghai Lujiazui Finance&Trade Zone Development Co., Ltd (Lujiazui, Ltd) in the first place, is the only high-level nursing home on the Shanghai Inner Ring Elevated Road. With the assistance of Charles Wu, Taikang Group realized an asset-light business model in this project by acquiring 80% equity of the project company and leasehold interests related to nursing homes in 2020. This project with a complex transaction structure is highly demanding at the regulatory level. In this project, Charles Wu provided solutions to the legal issues related to state-owned property listing transactions and joint ventures. Structured financing options related to leasehold interests were also completed as a result of Charles' work.