ARA Asset Management has accused the board and management team of ASX-listed Cromwell Property Group (CMW) of “erratic and undisciplined” behaviour in a bidder’s statement related to its takeover plans of Cromwell. ARA, which already owns a 24% stake in the company through subsidiaries, is trying to acquire 29% of Cromwell shares that it doesn’t […]
In Australia, Home Consortium (HMC) is buying three Woolworths-based neighbourhood centres in NSW and Victoria from the supermarket group for A$127.8m, as well as a residential aged care facility in NSW for A$32.59m. The company said it would raise A$170m to pay for the deals through a A$140m fully underwritten institutional placement and a A$30m […]
New York-headquartered alternative investment manager Angelo, Gordon & Co has raised US$1.3bn in equity commitments for its latest Asia property fund, AG Asia Realty Fund IV. The fund, which exceeded its US$1bn target, will focus on value-add turnaround and development opportunities across major markets in Asia, with a strong emphasis on Japan, China, South Korea and […]
Investment manager AEW has expanded into Japan with the opening of a Tokyo office to be led by country manager Steve Bass and associate director Kiyomasa Matsuda. The new office is located in the landmark Shinjuku Nomura building in the Shinjuku’s business district and builds on the company’s Asia-Pacific presence in Hong Kong, Singapore and […]
AXA Investment Managers – Real Assets, the property arm of the French insurer, has purchased a portfolio of four hotels in Sydney and Canberra for A$330.4m (US$236m). The portfolio is managed by AccorHotels and comprises 831 rooms in total, the buyer said in a statement. The deal features the 5-star Pullman Sydney Olympic Park (218 […]
Singapore-listed Ascendas REIT has purchased a 25% stake in Singapore’s Galaxis building from a subsidiary of Japan’s Mitsui & Co for S$102.91m (US$72.4m), reflecting a net income property yield of 6.2%. The 17-storey property is located at the heart of the Fusionopolis complex in one-north business park, Singapore’s hub for ICT, media, physical sciences and […]
Singapore-listed Frasers Property has agreed to sell a 50% stake in its Frasers Tower in Singapore for S$422.7m (US$327.2m) after completing the 38-storey property last year. The grade A office tower and adjacent three-level retail podium is valued at S$1.965bn, with 685,000 sq.ft. (63,639 sq.m.) of net lettable area situated at the gateway to Singapore’s […]
Asian logistics real estate platform ESR said it has effectively completed its A$723m takeover of Australian industrial and office landlord Propertylink. ESR has bought 98% of the REIT’s shares and will compulsorily acquire the outstanding stocks by the end of April, the buyer said in a statement. Propertylink has A$1.8bn of industrial and office assets, […]
Dutch pension fund APG has committed up to A$600m (US$419.5m) to Australian real estate debt investments in its first foray into Asia Pacific property debt. The pension fund has teamed up with Australian commercial real estate debt manager MaxCap Group and will target first mortgage stretch-senior loans, focusing on construction lending across different asset classes. […]
Australian-listed Lendlease and an unnamed institutional investor have teamed up to invest US$1bn in data centres across Australia, China, Japan, Malaysia and Singapore. Sydney-headquartered Lendlease will fund 20% of the joint venture, while the investment partner will fund the remaining 80%, according to Lendlease. Tony Lombardo (image: Lendlease) “A data centre platform is a strategic […]
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