In Sydney, companies in the central business district have to think twice before relocating to another workplace in Australia’s largest office market. That’s because there has been an office supply drought in the CBD that has seen the vacancy rate fall to 4.1% as of January this year, the lowest it has been in over […]
Tokyo-listed GLP J-REIT has acquired interests in seven logistics properties across Japan for a combined ¥98.23bn (~US$940m). The REIT acquired the remaining 60% interest in the GLP Yokohama warehouse, a fully let 95,312 sq.m. property with easy access to Haneda Airport and Tomei Expressway, for ¥24.27bn. The deal also comprised the 75,719 sq.m. GLP Sayama […]
Mumbai-listed Embassy Office Park REIT has agreed to acquire the Embassy TechVillage business park in Bengaluru from its sponsors for ₹98bn (US$1.3bn). Situated on the Outer Ring Road, the 9.2m sq.ft. business park is home to over 45,000 employees from more than 40 corporate occupiers, including JP Morgan, Cisco, Sony and Flipkart. The property currently […]
Tokyo-listed SOSiLA Logistics REIT (SLR) has acquired two logistics buildings in Kanagawa and Osaka for more than ¥23bn (~US$219m) from major shareholder, Sumitomo Corporation. The J-REIT bought a 62% stake in the SOSiLA Ebina property, which is fully leased with five tenants across 42,060 sq.m., in Ebina City for ¥14.69bn. The company also purchased the […]
A rapid transformation on the rooftops of many industrial REITs is underway as landlords ramp up their commitment to solar initiatives. This is being driven by a mix of company, investor and tenant demand to reduce carbon emissions. It’s logistics warehouses that are at the forefront of incorporating rooftop solar panels as a source of […]
ASX-listed Charter Hall Social Infrastructure REIT has acquired the South Australian Emergency Services Command Centre development in Adelaide for a total consideration of A$80m. The A-REIT purchased the project for A$23m and will fund the remainder of the development to a total value of A$80m, with a 5% coupon received during construction. The complex will […]
ASX-listed Dexus has agreed to sell an A-grade office tower in North Sydney for A$273m, representing a circa 3% premium to its book value. Located in the centre of North Sydney’s financial district, the 17-level tower at 60 Miller Street comes with 19,350 sq.m. of ground floor retail. The property has a 97% occupancy rate […]
Sydney-listed Vicinity Centres (VCX) was among the biggest fundraisers in June, raising A$1.2bn through its fully underwritten institutional placement. The retail REIT said 810.8m new shares were issued at A$1.48 per security, receiving strong support from existing shareholders and demand from potential new investors. Credit Suisse (Australia) and Macquarie Capital Australia acted as the underwriters […]
Australian real estate investment trusts (A-REITs) and listed infrastructure continue to present compelling opportunities for patient investors, but diversification is key, says Resolution Capital real assets portfolio manager Jan deVos. “COVID-19 has accelerated the shift to digital, which has benefited a number of real asset companies, though adversely impacted others,” deVos said. “However, we believe […]
One of the biggest deals of the month was Charter Hall Group’s (CHC) A$648m joint acquisition of a portfolio of Australian logistics assets with Allianz Real Estate. The 50-50 JV deal comprised four ALDI distribution centres located in Sydney, Melbourne and Brisbane, which ALDI designed and built to high specifications. “Accessing the on-going growth and […]