Singapore’s sovereign wealth fund GIC and Indian Hotels Company Limited (IHCL) have teamed up to form an Indian hotel platform that will invest Rs. 4000 crores (US$600m) over three years. The joint venture will target hotels across the luxury, upper upscale and upscale segments located in key lodging markets in India, the firms announced. Under […]
Singapore real estate firm CapitaLand has divested its interests in StorHub, one of Singapore’s largest self-storage businesses, to an unnamed investor for S$185m (US$136.3m). StorHub’s 74,322 sq.m. portfolio features 12 storage facilities, including 11 properties in Singapore and one asset in Shanghai, CapitaLand announced. Jason Leow, president and CEO of Singapore & International at CapitaLand, […]
Swiss investment manager Partners Group and a consortium of investors have bought a mixed-use complex in Beijing’s ZGC area, known as the Silicon Valley of China, for US$1.34bn. Partners Group purchased a majority stake in the 176,976 sq.m. Dinghao Plaza, the firm said in a statement. The Zug-based investor teamed up investors including Ascent Real […]
PGIM Real Estate has raised US$447m in equity commitments from the first closing of its open-ended Asia Core fund, prioritising assets with defensive income qualities. Benett Theseria (image: PGIM) The diversified fund will invest in the office, retail, industrial and residential asset classes in key cities throughout Japan, Australia, Singapore, Hong Kong, South Korea and […]
Singaporean-listed CapitaLand has raised US$391m in the first closing of its CapitaLand Asia Partners I fund, targeting value-add and transitional office buildings in Asia’s key gateway cities. CapitaLand began fundraising for CAP I nine months ago and has received commitments from pension funds, insurance companies, financial institutions and other institutional investors from Asia and Europe. CAP […]
Real estate investment managers raised US$32.8bn for vehicles focused on Asia Pacific last year, up from US$26.9bn in 2018, according to a new survey. A new survey, which was conducted by ANREV, INREV and NCREIF in January and February, found that investment managers raised a record US$225.8bn globally last year. More than 60% of the […]
Singapore-listed United Industrial Corporation (UIC) and its parent company UOL have taken control of the Marina Square Shopping Mall and Marina Mandarin Hotel in Singapore in a deal worth S$675.3m (US$499.3m). UIC agreed to buy a combined 24.7% stake from Singaporean property group OUE and two other vendors in Marina Centre Holdings (MCH) for S$485.3m, […]
Singapore-listed CapitaLand has secured S$400m in green loans from DBS and HSBC, as one of its logistics assets in Singapore sets a new sustainability benchmark. DBS has provided a S$150m, four-year green loan to CapitaLand, while HSBC has arranged a S$250m, three-year multi-currency green loan, according to an announcement. CapitaLand will use the proceeds to […]
Hong Kong-listed Sun Hung Kai Properties has won a tender for a commercial property site near a high-speed train station in Guangzhou for RMB 1.19bn (US$178m). SHKP, one of Hong Kong’s largest landlords, said the 69,677 sq.m. site sat adjacent to another site that it acquired in May last year, according to an announcement. The […]
Tokyo-listed Industrial & Infrastructure Fund (IIF) has agreed to acquire five commercial properties located across Japan worth a combined JPY 24.65bn (US$224.9m). IIF, a J-REIT managed by Mitsubishi Corp-UBS Realty, will acquire the parcel of logistics, manufacturing, research and development facilities from different sellers, the company said. The firm acquired the IIF Shin-Kawasaki R&D Centre […]