Tokyo-listed Daiwa House REIT Investment Corporation has disposed of six logistics properties across Japan for JPY11.7bn (US$110.6m) to improve the quality of its diversified portfolio. DHR, which will have JPY739bn in assets under management post-transaction, sold the assets to Godo Kaisha Heptagon, a Tokyo-based entity unrelated to DHR. The sale is expected to generate a […]
Knight Frank’s Asia Pacific prime office index rose 0.9% during the second quarter of 2019 after declining in the first three months of the year. Tokyo boasted the greatest rental gains in Q2 2019, rising 6.9% quarter-on-quarter due to the limited supply of prime office space. Prime office rental cycle (source: Knight Frank) Greater China’s […]
118 Mount Street (Source: CBRE Global Investors) US-headquartered CBRE Global Investors has purchased an office development on behalf of a German real estate Spezialfonds, tapping into the major infrastructure investment in North Sydney. CBRE GI acquired the 118 Mount Street project in North Sydney from Zurich Insurance Group, which is developing the 21,012 sq.m. asset […]
Colliers International has acquired a controlling stake in project management firm Synergy Property Development Services and merged operations to create one of the top players in India’s commercial real estate market. David Hand and Sankey Prasad (image: JLL) The combined business will have more than 1,400 professionals operating in 16 offices across India, Colliers said […]
Japan’s Mori Building has started construction on a JPY 580bn (US$5.5bn) real estate development project, which will include the country’s tallest building, in central Tokyo. The project, dubbed the Toranomon-Azabudai District Category 1 Urban Redevelopment project, aims to create a ‘modern urban village’ covering 8.1 hectares in the heart of Tokyo, the company announced. Scheduled […]
BlackRock Real Estate’s head of investments in Asia Pacific, Greg Lapham, is stepping down from the role, according to PERE. The executive will officially leave the company next month. Nuveen Real Estate head of Asia Pacific Chris Reilly has reportedly resigned as well and has been temporarily replaced by head of Australia, Nick Evans. Reilly […]
City View Holdings, a subsidiary of hotel chain Worldwide Hotels, has snapped up a prime commercial property in Singapore for S$276.2m (US$201.9m), with preliminary plans to develop the site into a hotel. The Golden Wall Centre sits on a 2,251.9 sq.m. plot of land in the Beach Road/Ophir-Rochor Corridor, according to a statement from advisor […]
US asset manager Blackstone has agreed to acquire the outstanding stake in Indiabulls Real Estate’s commercial portfolio for about US$614m (Rs 4,420 crore) after purchasing a half-stake in the portfolio last year. The deal is part of Indiabulls Real Estate’s plan to achieve zero net debt this financial year through strategic divestments across its commercial […]
US private equity firm Warburg Pincus has raised US$4.25bn in the final closing of its China-Southeast Asia II fund that will invest in companies across real estate, healthcare, technology and other sectors across China and Southeast Asia. Warburg Pincus China-SEA II initially targeted US$3.5bn at its launch in January, but received investor commitments in excess […]
Australian-listed Centuria Industrial REIT has nabbed two warehouse properties in Brisbane and Perth for a combined A$54.4m (US$38.7m), targeting locations near airports in capital cities. The trust bought a property located at 149 Kerry Road near Brisbane’s Archerfield airport for $30.6m and purchased the asset at 155 Lakes Road in the Perth suburb of Hazelmere […]
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