Chinese data centre developer GDS has acquired a data centre campus in Beijing for RMB 785.1m (US$109.9m) at a time when permits to build and operate such assets are in short supply. The campus is made up of three data centres, one of which is under development, in Beijing’s Shunyi district, just 8km from the […]
South Crown Development, representing Hong Kong-listed Henderson Land Development, has bought a parcel of properties for redevelopment in Hong Kong’s Kowloon market for HK$2.137bn (US$273m). Whampoa Street (image: JLL) The buildings at 1, 1A, 3, 5, 7, 7A, 9, 9A, 11, 11A, 11B, 11C, 15, 15A, 17, 17A, 19, 21, 21A, 21B and 21C Whampoa […]
Canadian Pension Plan Investment Board (CPPIB) and its joint-venture partner Shapoorji Pallonji Investment Advisors have sold an IT office complex in Chennai, India to Singapore-based Mapletree for about C$250m. Mapletree, which manages S$46.3bn of assets, gained control of the roughly 250,000 sq.m. SP Infocity Park complex through the acquisition of the Faery Estates JV, according […]
Singaporean asset manager Keppel Capital has agreed to buy three commercial buildings in Seoul for a total of KRW 430bn (US$370m), as it pursues further deals in the South Korean capital. Keppel Capital acquired the three grade A buildings through its Alpha Asia Macro Trends Fund III, the firm said in an announcement. The seller […]
Allianz Real Estate, the property arm of the German insurer, has committed US$600m to GLP‘s logistics development funds in China and Japan, as the firm bolsters its warehouse portfolio in the region. The funds focus on developing modern, large-scale logistics facilities across China and in the Greater Tokyo and Osaka regions in Japan, according to announcements. Rushabh Desai, Asia-Pacific CEO of […]
Commercial real estate investment totalled US$159.1bn across Asia Pacific in 2018, the second highest year on record, according to Real Capital Analytics. The annual deal volume fell just 2% short of the previous record set in 2017. “While property investment started the year strongly, activity decelerated in the second half, with investors concerned about financial […]
M&G Investments has appointed Chris Andrews as head of business development, Australia, and James MacKinnon as head of Australia, real estate. The new hires are part of the firm’s expansion into Australia, opening offices in Sydney and Melbourne. Andrews will be based in Melbourne and was most recently based in Singapore as head of client […]
Singapore-listed Mapletree North Asia Commercial Trust has agreed to buy two office towers in the Greater Tokyo area for S$482.5m (US$354.7m), as the trust dilutes its exposure to its shuttered Festival Walk mall in Hong Kong. mBay Point Makuhari building The trust acquired the assets at a net property income yield of 4.5% from its […]
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.
Australian-listed Cromwell Property has sold its half-stake in Sydney’s Northpoint Tower for A$300m after purchasing the Altitude Corporate Centre in the same city for $113.28m. Northpoint Tower (image: Cromwell Property) Cromwell sold its interest in the 44-storey office and retail tower to Hong Kong-based Early Light International, which will own the entire property after buying […]
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