Here’s how the REIT markets performed across Asia Pacific on Friday, 15 May 2020. Thailand Strategic Hospitality Extendable Freehold & Leasehold REIT (SHREIT) shares skyrocketed 14.76% to ฿4.82 on Friday after the board approved a US$118m takeover offer from LT Rubicon Ltd. The offer was announced in April, and will include the trust’s three hotels […]
Japanese group NTT Urban Development Corporation has bought an office building in Melbourne from an Australian Unity fund for A$72m (US$46.3m). The Tokyo-headquartered firm purchased the property at 200 Victoria St in Carlton through its local subsidiary, UD Australia Pty Ltd, the buyer said. 200 Victoria St The property offered 7,912 sq.m. of lettable space […]
Dutch investment manager Bouwinvest Real Estate Investors plans to deploy €1.5bn (US$1.7bn) into Asia Pacific’s real estate markets by 2021 after opening its first overseas office in Australia. Bouwinvest Real Estate Investors, which has €11.3bn of assets under management, opened an office in Sydney to strengthen its presence in the region, the company said in […]
London-based M&G Real Estate has purchased three residential buildings in the Japanese cities of Kobe and Nagoya on behalf of its core strategy for JPY 6.07bn (US$57m). The deal is M&G’s fourth residential portfolio acquisition in Japan, having been an active player in the sector for the past five years. “Rental demands in the residential […]
Blackstone has bought a 50% stake in three shopping centres across China and South Korea from retail REIT Taubman Centers in a deal worth US$480m. The centres include the Starfield Hanam property in Hanam, South Korea; CityOn.Xi’an in Xi’an, China; and the CityOn.Zhengzhou asset in Zhengzhou, China. The buyer made the acquisition through its Asia […]
Australian retail group Coles has sold a pub and hotel portfolio to KKR-owned Australia Venue Co for A$200m (US$140.8m), as part of a joint venture between the two businesses. The Queensland Venue Co JV will comprise Coles’ Spirit Hotels business made up of 87 hotels, mostly in the state of Queensland, plus 253 retail liquor […]
Singapore-based real estate firm Rockworth Capital Partners has acquired an 18% interest in property fund manager Elanor Investors Group to expand its footprint in Australia. Rockworth bought 14.4m stapled securities in the Australian-listed company from existing shareholders, plus a placement of 3.5m new fully paid stapled stocks at A$1.85 per stock, according to a company […]
Hong Kong-listed Wang On Group and its subsidiary Wang On Properties have agreed to buy a commercial podium at a Hong Kong residential community for HK$780m (US$99.4m). The two investors bought the holding company that owned the commercial accommodation of The Parkside complex, the buyers said in an announcement. The asset, located at 18 Tong Chun […]
Singapore-listed Ascendas Hospitality Trust has snapped up the Ibis Ambassador Seoul Insadong hotel in the South Korean capital for KRW77.5bn (US$69m), as the city’s tourism market rebounds. The 363-room property was acquired at a 3.1% discount to its latest valuation, reflecting a net property income yield of 4.6%, according to an A-HTRUST announcement. The deal follows […]
The property arm of Baring Private Equity Asia, BPEA Real Estate, has committed US$480m to Chinese logistics property platform, Forest Logistics. Led by Hank Hsu and Addy Chen, Forest Logistics develops and operates logistics facilities in key gateway cities across China, BPEA said in an announcement. BPEA raised a large portion of the new commitment […]
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