Singapore-listed City Developments Limited (CDL) has launched a £776.29m (US$986.8m) takeover offer for UK-listed Millennium & Copthorne (M&C) Hotels amid an “increasingly challenging” global hospitality landscape. CDL made a final offer of 685 pence per M&C stock for the outstanding 34.8% of shares that it didn’t own, having already secured “irrevocable undertakings” for almost half […]
US-headquartered CBRE Global Investors has purchased a seven-storey logistics development in the South Korean city of Ansan, southwest of Seoul, from local developer Sunkyung E&C. The Logis Valley Ansan property will have 239,000 sq.m. of total gross floor area and is scheduled for completion next month. “The Shiwha Multi Techno Valley, where Logis Valley Ansan […]
Japan’s Sumitomo Mitsui Trust Bank and UK-based asset manager Aberdeen Standard Investments have teamed up to invest in residential real estate across Japan and other Asia Pacific markets. The joint venture will focus on multi-family, senior housing, student housing and corporate housing assets in mature markets across the region, focusing on Japan, the two companies […]
Singapore-listed CapitaLand has divested three malls in the Chinese provincial capital cities of Harbin and Changsha to its China retail-focused S-REIT for RMB 2.96bn (US$428.1m). CapitaLand Retail China Trust (CRCT), which is sponsored by CapitaLand and also listed on the Singapore stock exchange, will acquire the CapitaMall Xuefu and CapitaMall Aidemengdun shopping centres in Harbin, […]
Starwood Capital and private property firm Arrow Capital Partners have acquired the Zenith office complex on Sydney’s North Shore from fund manager Blackrock and Australian fund manager Centuria for A$438.2m (US$306.7m). The grade-A office complex features two 21-storey towers and comprises 44,102 sq.m. of net lettable area in Chatswood, 12km from the CBD, according to […]
Australian-listed property groups Charter Hall and Abacus Property have made a joint takeover offer for the Australian Unity Office Fund after acquiring a 19.9% stake in the fund last week. AOF owns a portfolio of nine offices across metropolitan and CBD markets in Sydney, Adelaide, Melbourne, Brisbane and Canberra, worth a combined $635.6m, as of […]
Singapore-listed CapitaLand has sold the Innov Center in Shanghai’s Yangpu district to its maiden discretionary fund, CapitaLand Asia Partners I, for RMB 3.1bn (about US$451.6m). The real estate firm raised US$391m in the first closing of CAP I last month, with plans to focus on assets in Singapore, Beijing, Guangzhou, Shanghai, Shenzhen, Osaka and Tokyo. […]
Hong Kong-listed Swire Properties and China Motor Bus Company (CMBC) have agreed to sell a 26-storey office in Hong Kong’s North Point area for HK$4.75bn (US$605.2m). The two vendors separately announced the disposal of their 50% stakes in the 625 King’s Road property, with Swire Properties noting that it would record a HK$965m statutory gain […]
LaSalle Logiport REIT (LLR) has agreed to buy three warehouses and two land leaseholds located across Tokyo and Osaka for a combined JPY 28.39bn (US$259.4m). The Tokyo-listed company also announced it was divesting its LOGIPORT Hiratsuka Shinmachi warehouse for JPY 7.7bn. The company said the newly-acquired assets comprised large-scale, high specification modern logistics facilities, as […]
Singapore-based SC Capital Partners (SCCP) has raised US$850m in the final closing of its fifth discretionary real estate fund, Real Estate Capital Asia Partners V (RECAP V). SCCP raised institutional capital from North America, Europe and Asia Pacific, including public and private pension funds, university endowments, asset managers, private foundations, family offices, insurance companies and […]
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