Australian REIT Dexus and its wholesale property fund have gained full control of the landmark MLC Centre in Sydney after acquiring the outstanding 50% stake for A$800m (US$565m). Australian property firm GPT agreed to sell its interest in the tower after announcing its intention to offload the stake in January this year. The tower has […]
Property private equity firm Gaw Capital Partners and a group of investors including Goldman Sachs have bought a portfolio of 12 shopping centres in Hong Kong from Link REIT for HK$12bn (US$1.53bn), representing a 32% premium to recent valuations. The portfolio feature 1.1m sq.ft. of prime retail space, including the Chun Shek, King Lam and […]
Australian Macquarie Group has acquired a long-term license to operate the 3,200-space carpark of SkyCity’s Auckland casino complex in New Zealand for NZ$220m (US$148.4m). Macquarie Principal Finance purchased the concession from listed casino group SkyCity and will run the carpark until 2048, the seller said in an announcement. Carpark operator Care Park, which manages more […]
Australian property fund manager Charter Hall, Canada’s Public Sector Pension Investment Board and the Charter Hall Prime Office Fund have acquired Telstra’s global headquarters in Melbourne’s CBD for A$830m (US$582.3m). The 47-storey tower offers 65,913 sq.m. of net lettable area, comprising 63,398 sq.m. of office space plus retail and car parking, Charter Hall said in […]
Frasers Centrepoint Trust (FCT) has acquired a one-third interest in the Waterway Point mall in Singapore from another Frasers Property subsidiary for S$440.6m (US$319.9m). Waterway Point is a 34,485 sq.m. suburban shopping centre located next to the Punggol light rail and train station, Frasers Property announced. The property is 98.1% occupied and has a wide […]
ASX-listed retail giant Unibail-Rodamco-Westfield (URW) reported a 27.2% fall in recurring income to €667m for the first half of 2020. Having shut down its shopping centres for 67 days on average as a result of COVID-19, the company said footfall and sales had recovered better than expected. The company’s like-for-like portfolio value fell 5.1% to […]
Property private equity firm Gaw Capital Partners and a consortium of investors have bought four office buildings in Shanghai from China Resources Capital Management. The deal included tower blocks A, B, C, & D of the Shanghai MixC complex, located at 1799 Wuzhong Road in the Minhang District, Gaw said in a press statement. The […]
Investors upped their exposure to riskier real estate strategies in Asia Pacific, as non-listed property strategies in the region attracted US$26.9bn in 2018, according to a new survey. Asia Pacific made up 14.5% of the $185.4bn in new capital raised globally for private real estate in 2018, according to research compiled by ANREV, INREV and […]
The US-China trade war is weighing on property capital flows into and out of Asia and weakening confidence across office leasing markets in Hong Kong and China, says Colliers. The firm expects Asia-to-global and global-to-Asia investment to be flat at best in 2019 after significant year on yera declines in the first half of this […]
Singaporean sovereign wealth fund GIC has partnered with data centre developer GDS to build and operate hyperscale build-to-suit data centers outside of Tier 1 cities in China. The agreement will see individual companies set up for each development, with GIC buying a 90% interest in each project company, in addition to financing costs, upon completion, […]
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