Australian-listed Charter Hall Long WALE REIT has agreed to buy a portfolio of 27 agri-logistics properties across Australia including hatcheries, feedmills and breeder farms for A$207m (US$147m). The portfolio is fully let to poultry business Inghams on a triple-net lease structure with 15.8 years remaining, according to a Charter Hall statement. The assets are strategic […]
Sentiment has turned “decisively negative” in commercial property markets across Asia Pacific, as the slowing global economy dampens the outlook for real estate, according to RICS. Survey respondents in the RICS Q3 2019 Asia Pacific Commercial Property Monitor indicated that conditions deteriorated significantly during Q3 2019. “After a period of fairly subdued momentum which coincided […]
Ong Choon Fah (image: ULI/LinkedIn) Edmund Tie & Company CEO Ong Choon Fah has been elected the new chair of ULI Singapore, replacing Centre for Liveable Cities executive director Khoo Teng Chye, who served two years in the role. The CEO, who is also the head of research and consulting, brings more than two decades […]
Japan’s Mitsui Fudosan plans to develop two logistics facilities in Bangkok for JPY 18.5bn (US$166m), marking its first overseas logistics deals. The listed real estate firm will build the warehouses through a joint venture with a subsidiary of Frasers Property (Thailand), Mitsui announced last week. The first facility, Bangpakong Logistics Parks, will be developed on […]
Hong Kong-based Gaw Capital Partners has teamed up with data centre specialist Centrin Data to establish and manage a portfolio of hyper-scale data centres in China. A data centre in Kunshan, Jiangsu Gaw Capital is raising a data centre fund to tap into the increasing investor demand for Chinese data centre assets, driven by advancements […]
Australian property firm GPT has snapped up five prime logistics properties in Sydney for A$212m (US$146.8m) and started a new development in Melbourne’s west. The Sydney assets have a total lettable area of 88,200 sq.m., a combined weighted average lease expiry of 8.6 years and an initial passing yield of 5.4%. The acquisitions are expected […]
Singaporean sovereign wealth fund GIC has invested in two office assets in Sydney and Beijing this week, betting on emerging office markets across both cities. The Lize Financial Business District building The fund bought a 50% stake in a 42-storey grade A office building in Beijing’s Lize Financial Business District (LFBD), giving it full ownership […]
Australian fund manager Serene Capital has put the Ibis Swanston Street hotel in Melbourne on the market with price expectations of more than A$70m (US$47.9m). The asset, which was developed six years ago, features 235 rooms, a leased cafe, restaurant and parking, according to CBRE, which is handling the listing with Colliers. Ibis Swanston Street […]
Aberdeen Standard Investments has acquired real estate investment manager Orion Partners in a move to expand its property business across Asia Pacific. Orion manages about US$900m of direct real estate investments on behalf of institutional investors, with offices in Hong Kong, Tokyo, Seoul and Singapore, the buyer said in an announcement. It was purchased for […]
Australian property firm GPT has announced plans to sell its 50% stake in the MLC Centre in Sydney to reinvest into developments across the country. The 67-level tower comprises 66,829 sq.m. of office and 6,013 sq.m. of retail in the heart of the city’s commercial, financial and legal districts. “The Sydney CBD office market has […]
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