China’s leading real estate portal SouFun (NYSE: SFUN), which recently changed its web address to Fang.com, announced that it has partnered with home agency company Tospur Real Estate Consulting to purchase a 16% share in the latter via private placement for around RMB381 million (US$62 million) in cash.

Under the deal, the two companies will also invest RMB60 million (US$9.8 million) and RMB40 million (US$6.5 million) respectively, to form a joint venture to provide real estate financing services. This sector is expected to become a pillar business of SouFun, which just launched a third-party financing business last year.

Formed in Shanghai in 1998, Tospur is a leading Chinese real estate service provider. It offers real estate marketing and sales agency service, financial services, commercial property operation service, and consulting services.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.