值得关注的是，前述公告中的"基金"为青岛瑞见私募股权投资基金合伙企业（有限合伙）（以下简 称"瑞见私募"）。天眼查App显示，瑞见私募背后有大家人寿保险股份有限公司身影。 盘活存量商业资产正成为各大上市房企拓宽融资的重要支点。近期，通过引入险资，将优质商业资产通 过公募REITs分拆上市等方式，房企正持续回笼资金，并向"轻资产运营"模式持续靠拢。 近期，瑞安房地产有限公司（以下简称"瑞安房地产"）以及中国海外发展有限公司（以下简称"中国海 外发展"）接连宣布盘活旗下优质商业地产。 6月25日晚间，瑞安房地产发布公告称，通过全资附属公司SODH及现有股东、基金、基金普通合伙人1 和2、岭南新天地项目公司佛山瑞安天地房地产开发有限公司（以下简称"佛山瑞安"）以及岭南站购物 中心项目公司佛山安盈房地产开发有限公司（以下简称"佛山安盈"）达成合作，转让佛山瑞安及佛山安 盈各自的100%股权，总对价约34.9亿元。 交易完成过后，基金将持有的佛山瑞安及佛山安盈100%股权，而瑞安房地产将通过间接全资附属公司 上海瑞安投资集团有限公司拥有基金57.63%的合伙权益。根据瑞安房地产的公告，该交易于扣除税项 及交易成本后，所 ...

Core Viewpoint - The proposed spin-off of the infrastructure REIT is expected to benefit both the group and the REIT itself, aligning with national policies to enhance consumption and financial reforms [3]. Group and Company Summary - On June 26, China Overseas Land & Investment Limited announced the proposal for a public offering of an infrastructure securities investment fund, with application materials submitted to the China Securities Regulatory Commission and Shenzhen Stock Exchange [1]. - The infrastructure REIT will be based on assets from a shopping center located in Nanhai District, Foshan, owned by a wholly-owned subsidiary of China Overseas Land [1]. - The public fund aims to raise approximately RMB 1.355 billion, with China Overseas Land expected to subscribe to about 20% of the total issued fund shares [1]. - Following the completion of the spin-off, the project company will be 100% owned by the infrastructure REIT and will no longer be a subsidiary of the company [2]. Benefits of the Spin-off - The spin-off is strategically located in the Guangdong-Hong Kong-Macao Greater Bay Area, a key area supported by national policies, which aligns with the goal of enhancing consumption and financial system reforms [3]. - Successful issuance of the infrastructure REIT is anticipated to create a positive investment cycle, significantly improving the efficiency of infrastructure fund utilization [3]. - The issuance provides a new equity financing method, reducing reliance on traditional debt financing and enhancing the company's investment capabilities and sustainable operations [3]. - The independent listing of the public fund is expected to unlock value for shareholders and better identify the fair value of the underlying assets [4]. - The spin-off will create independent fundraising platforms for both the group and the infrastructure REIT, enhancing their ability to explore new financing channels [4].