Singaporean-listed CapitaLand has raised US$556m in the first closing of its maiden discretionary real estate debt fund, in what is set to be one of China’s largest property debt vehicles. CapitaLand is looking to raise $750m for the CREDO | China fund, which will invest in offshore US dollar-denominated subordinated loans for real estate in […]
Singapore-based real estate fund manager ARA Asset Management has snapped up the Seoul Square office complex in South Korea’s capital. ARA, which has S$80.1bn (US$59.1bn) of assets under management, purchased the 23-storey property on behalf of a new private real estate fund, the firm said in a press announcement. The 132,806 sq.m. office is located […]
Australian-listed senior living group Aveo has confirmed it is in takeover talks with Canada’s Brookfield Property Group, naming the major real estate investor as its preferred partner. Aveo owns and manages 93 retirement villages comprising about 12,000 units across Australia, as of September 2018. The negotiations follow the recent completion of Brookfield’s A$4.1bn acquisition of […]
Hotel investments across Asia Pacific reached US$4.5bn during the first six months of 2019, with domestic buyers in Japan, China and Australia accounting for more than half of the capital. In H1 2019, Japan’s hotel market recorded the highest domestic transaction volumes in the region at US$1.14bn, according to JLL. Japanese REITs led the way, […]
Singapore-listed CapitaLand has formed a joint venture with an unnamed investor to buy 70% of the Pufa Tower in Shanghai for RMB2.75bn (S$546m). The 34-storey building will become the seed asset of a value-add fund that will invest in commercial real estate in key gateway cities of Asia, CapitaLand said in a statement. The deal […]
Singapore-listed Keppel REIT has agreed to purchase the T Tower office in Seoul’s CBD from investment manager PGIM Real Estate for KRW 252.6bn (US$221m), the trust’s first deal in the city. The REIT will take a 99.38% stake in the asset, with a Keppel Capital subsidiary taking over the remaining 0.62%, according to an announcement. […]
Australian REIT Dexus has agreed to sell an office park in Sydney for A$231.2m (US$165m), as it recycles assets to fund its development and deal pipeline. Dexus, which manages a A$28.9bn portfolio, sold the 11 Talavera Road property in Macquarie Park, about 10km north of Sydney’s CBD, according to the company. The asset comprises three […]
Allianz Real Estate, the property arm of the German insurer, and Singapore-headquartered Alpha Investment Partners have acquired an 85% stake in the Ronsin Technology Center in Beijing for about S$1.3bn (US$949m). Beijing Ronsin Technology Center (image: Allianz Real Estate) The seller, Shanghai-headquartered office landlord D&J China, will retain the remaining 15% interest in the S$1.5bn complex. […]
Australian-listed Centuria Capital has agreed to buy a Brisbane office building from US-based property group Hines for A$89m (US$59.9m). Centuria acquired 348 Edward Street in the Brisbane CBD on behalf of an unlisted single-asset fund, which will be launched later this month, the firm said in an announcement. “This transaction grows our unlisted fund opportunities […]
US property investment firm Hines has established its Asia Pacific headquarters in a new office in Hong Kong, bolstering its presence in the region. Hines, which has US$120.6bn of assets under management, has called on co-CEO Ray Lawler to oversee the Asia Pacific region from the new office, the company said in a statement. “Hines […]
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