Australian-listed Scentre Group has offloaded its Sydney CBD office towers to US asset manager Blackstone for A$1.52bn (US$1.06bn), just weeks after selling off a stake in a Sydney mall. Scentre, which owns and operates Westfield shopping centres across Australia and New Zealand, also announced an A$800m share buy-back programme to boost its return on equity […]
London-headquartered M&G Real Estate has purchased a modern logistics centre near Seoul for 155.5bn won (US$131m), as the firm takes advantage of maturing logistics markets across Asia Pacific. The four-storey, 100,000 sq.m. Yongin Baegam Logistics Centre is located in an established logistics cluster south of the capital city, M&G said in a statement. Real estate […]
Australian REIT Abacus Property Group has snapped up a North Sydney office from Oxford Properties for A$311.3m (US$211.4m) after the buyer’s joint takeover bid of an Australian office portfolio collapsed last week. The 99 Walker Street property is a 21-storey grade A asset with more than 19,295 sq.m. of net lettable space, reflecting $16,100 per […]
Allianz Real Estate, the property arm of the German insurer, has partnered with pan-Asian industrial specialist ESR to create a US$1bn logistics platform in India, as part of its strategy to invest more in Asia’s growth markets. Allianz RE and ESR will provide a combined $225m investment to kick off the platform, Allianz said in […]
Singapore-listed Ascott REIT has purchased the 150-room Felix hotel near Sydney’s airport for A$60.6m (US$42.9m), marking the trust’s first business hotel in Australia. The property will be rebranded to Citadines Connect Sydney Airport once the deal is completed in May this year, as part of its new Citadines Connect brand, the CapitLand-owned REIT said in […]
A joint venture between Singaporean sovereign wealth fund GIC and Australian REIT Dexus has acquired a 50% interest in Melbourne’s Rialto Towers for A$644m (US$392m). The 55-storey prime-grade asset is one of the largest office buildings in Melbourne’s CBD, with the buyers betting on “positive supply-demand dynamics of Melbourne’s office market over the long term”. The transaction […]
Centuria Metropolitan REIT has agreed to buy a Canberra office building for A$256m (US$177m) this week, as Centuria Industrial REIT purchased two logistics assets in Brisbane and Adelaide for A$236.2m (US$163m). The NewActon Nishi building (source: Centuria) Centuria Metropolitan REIT (CMA) purchased the 27,411 sq.m. NewActon Nishi building in the country’s capital city at a […]
Allianz Real Estate has named Danny Phuan as its head of acquisitions – Asia Pacific. Phuan joins the firm from Keppel Capital, where he was the CIO of North Asia, and director of investments at Alpha Investment Partners prior to that. Keppel REIT Management has appointed Ian Mackie as an independent non-executive director. He most […]
Australian logistics specialist Logos has bought two logistics parks in Chennai from developer Casa Grand Group for Rs 7bn (US$98.7m), marking its first deal in India. The fully-let Mappedu Logistics Park and Mahindra World City assets offer a combined 204,386 sq.m. of gross lettable area across 85 acres of land, Logos said in an announcement. […]
Allianz Real Estate, the property arm of the German insurer, has bought a €1.1bn (US$1.2bn) portfolio of core multi-family residential assets across Japan from funds managed by US asset manager Blackstone. The portfolio holds 82 assets comprising 4,600 units mostly across Japan’s four major cities of Tokyo, Osaka, Nagoya and Fukuoka, the buyer announced. “Japan is […]
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