In Hong Kong, New Century REIT (1275) secured two loans totalling RMB888.1m from New Century Tourism and Huge Harvest to refinance existing debts and facilitate a capital reduction of Zhejiang New Century for remittance of funds offshore. The RMB788.1m New Century Tourism loan facility is a short-term bridge loan with no interest rate maturing on […]
Singapore-listed CDL Hospitality Trusts (J85) issued profit guidance on Friday night, warning investors of the possibility of a marginal loss after tax for the first half of 2020, according to a statement. The REIT said it would record one-off winding down costs arising from the divestment of Novotel Singapore Clarke Quay, which was completed on […]
Australian property fund manager Charter Hall has completed the purchase of two office buildings in Sydney from Canadian investment manager Brookfield for a reported $804m. The two towers at 10 and 12 Shelley Street are in the city’s King Street Wharf precinct and are let to bank Suncorp and financial services multinational Amex, according to […]
In Singapore, EC World REIT (BWCU) told the market that its manager’s chief investment officer Li Jinbo had been interviewed and taken a leave of absence, as part of an investigation by the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS). The REIT said it had received a letter from the CAD […]
Singapore-listed Keppel REIT has agreed to sell its strata ownership of the Bugis Junction Towers in Singapore for S$547.5m (US$395.5m), reflecting a 3% yield for the office complex. Bugis Junction Towers (image: Keppel REIT) The 15-storey asset has been acquired by Singapore-incorporate company Village Prop. Pte. Ltd., however the Business Times reports that the main […]
Singapore’s ESR-REIT (J91U) and Sabana REIT (M1GU) have announced plans to merge in a deal that will grow total assets to S$4.1bn, making it one of the top five industrial REITs in the country. ESR-REIT will acquire all of Sabana REIT’s shares in exchange for new ESR-REIT units in a deal that values Sabana REIT […]
In Australia, Dexus (DXS) announced that the Dexus Australian Logistics Trust, which Dexus holds a 51% interest, exchanged contracts on two industrial properties for A$173.5m. The acquisitions include a 19,246 sq.m. cold store and ambient facility let to Real Dairy Australia and Tomkin in Greenacre, NSW. It has a weighted average lease expiry by income […]
LaSalle Investment Management has raised JPY 61bn (US$560m) in the initial closing of the LaSalle Japan Property fund, its first private open-ended core property fund in Asia. The newly launched fund, which raised commitments from Japanese investors, aims to grow to US$1.8bn in three years and US$2.7bn in five years. It will invest in the […]
Hong Kong-listed logistics developer and fund manager ESR has launched a A$1bn (US$616.5bn) Australia-focused logistics partnership, as it embarks on its largest capital raising in the country. The new core-plus ESR Australia Logistics Partnership (EALP) is seeded with A$715.6m of prime logistics assets already held by the firm, according to a statement. An unnamed global […]
Allianz Real Estate, the property arm of the German insurer, has agreed to buy a 20% interest in the Ocean Financial Centre office building in Singapore from listed firm Keppel REIT for S$537.3m (US$392.2m). The deal is part of Allianz’s strategy to increase its real estate exposure to as much as 10% in the Asia-Pacific […]
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