Australian property group Stockland has agreed to sell two shopping centres in the Australian towns of Caloundra and Bathurst for a combined AU$113.1m (US$82.8m), as the firm divests retail assets to reshape its commercial portfolio. Stockland Bathurst Shopping Centre (image: Stockland) Stockland offloaded the Stockland Bathurst Shopping Centre and Stockland South retail centre in Caloundra […]
Hong Kong-based InfraRed NF has provided US$63.8m in mezzanine financing to Fullsun International, taking total funds lent to the China-focused developer to US$156m. It marks InfraRed NF’s second round of financing to Fullsun after the non-bank lender provided a US$92.2m loan to the Hong Kong-listed developer in February. Stuart Jackson (image: InfraRed NF) Fullsun International, […]
Hong Kong-based logistics real estate platform ESR has raised JPY 70bn (US$630m) in the closing of its ESR Japan Logistics Fund 3 to fund its development pipeline in Greater Tokyo, Osaka and Nagoya. ESR, which has US$16bn of assets under management, raised the equity commitments from two investors, initially providing the fund with up to […]
Australian REIT Dexus has teamed up with Singaporean sovereign wealth fund GIC to create a A$2bn (US$1.46bn) unlisted trust to invest in Australian logistics real estate and take advantage of the heightened demand for distribution warehouses. Dexus will seed the new Dexus Australian Logistics Trust (DALT)with a $1.4bn portfolio of core properties and a $138m […]
Singaporean sovereign wealth fund GIC is buying a 25.1% interest in the A$4.3bn (US$2.9bn) trust that owns the landmark Barangaroo office precinct in Sydney’s CBD. GIC, which has more than US$100bn in assets under management, bought the Lendlease International Towers Sydney Trust interest from Australian property group Lendlease and Canada Pension Plan Investment Board (CPPIB), […]
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 property groups Charter Hall and Abacus Property have taken a step closer to their A$495m (US$332m) takeover of the ASX-listed Australian Unity Office Fund after signing a scheme implementation agreement. The buyers have agreed to acquire all AOF shares that they doesn’t already hold for A$3.04 per stock, less any additional distributions other than […]
Canadian investment manager Brookfield Asset Management has agreed to buy a commercial property development in Shanghai worth RMB 10.6bn (US$1.57bn) from Hong Kong-listed Greenland Hong Kong. Brookfield is expected to pay about US$2bn for three office towers and a retail mall at the Greenland Huangpu Centre (GHC), taking into account building costs and outstanding debts. […]
AXA Investment Managers – Real Assets, the property arm of the French insurer, has entered the Australian healthcare property market through a A$500m (US$340.8m) joint venture with London-headquartered Grosvenor and Centuria. Centuria Heathley, the Australian firm’s recently acquired healthcare property business, will manage the Australian Diversified Healthcare fund and grow its portfolio to A$500m in […]
Asian real estate investment trusts (REITs) remained globally competitive in the second quarter, compared to their European and UK competitors, according to Neil Brookes, head of capital markets, Asia-Pacific at Knight Frank. Singapore REITs have witnessed a drop in share prices of around 7% year-to-date, compared to their counterparts which saw a sharper drop of […]
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