AXA Investment Managers – Real Assets, the property arm of the French insurer, has acquired a development site in Sapporo, Japan to build a hotel and offices worth JPY 25bn (US$231.9m). The 6,691 sq.m. site was acquired on behalf of a client from Japanese conglomerate Yamaha Corporation, according to AXA IM – Real Assets. Sapporo The […]
Perennial Real Estate Holdings and a consortium of investors, including Singapore Press Holdings, have agreed to sell their stakes in the Chinatown Point Mall in Singapore in a deal worth S$520m (US$383.2m). The sellers offloaded their interests to a fund managed by Pan Asia Realty Advisors, which is a joint venture between Japan’s Mitsubishi Estate […]
Logistics developer and investor Logos has bought a 17.2ha infill development site in Auckland from logistics operator Toll Group, as part of a new joint venture with an unnamed institutional investor. The JV will develop 7.6ha of the site into a new rail-serviced freight forwarding facility, as part of a sale-leaseback deal with Toll, Logos […]
Real estate investment volumes across Asia Pacific fell 32% in the first half of 2020, as the impact of COVID-19 hit markets harder in Q2, according to JLL. Investment activity in the second quarter of 2020 slipped 39% year-on-year, accelerating from a 26% drop in the first quarter, as economies introduced lockdowns and travel bans. […]
Hong Kong-listed New Century REIT (1275) has warned shareholders of a net loss in the range of RMB470m and RMB490m for the first half of 2020 due to COVID-19. The profit warning comes after the hotel REIT recorded a RMB 8m net profit during the same period last year. The net loss was the result […]
Chinese e-commerce giant Alibaba Group has bought a half stake in Singapore’s AXA Tower from a consortium led by Singapore-listed Perennial Real Estate Holdings in a deal that values the property at S$1.68bn (US$1.18bn). The AXA Tower is a grade-A office development located in Singapore’s CBD, with 1.05m sq.ft. of gross floor area and building […]
Ascendas REIT (A17U), one of Singapore’s largest REITs by market cap, recorded a 2.3% decline in net income to S$240.7m during the first six months of 2020, compared to the same period in 2019. However, net property income rose 11.2% to S$388m, the company said in its 1H 2020 earnings. While the REIT’s total amount […]
APAC Real Estate tracks real estate investment trusts (REITs) listed in markets throughout Asia Pacific. We follow REITs in Australia, Singapore, Hong Kong, Japan, Malaysia, New Zealand, and other markets. Our coverage includes major share price movements, capital raisings, M&A, debt, property acquisitions, and more.
Singapore-listed CapitaLand has agreed to sell the Star Vista mall in Singapore for S$296m (US$217m), as part of the firm’s asset recycling program. CapitaLand, which has S$131.7bn in assets under management, sold the 15-storey integrated development to Rock Productions, which owns the Star Performing Arts Centre within the same development. The Star Vista (source: CapitaLand) The […]
European insurance giants Allianz and AXA have teamed up with student accommodation specialist Scape Australia for an A$1.5bn (US$1.03bn) core student housing joint venture in Australia. The JV is Scape’s first closed-end core program targeting Australian purpose-built student accommodation (PBSA), with cornerstone investor Allianz Real Estate providing an initial A$450m commitment. AXA will initially commit […]
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