Allianz Real Estate, the property arm of the German insurer, and Gaw Capital have teamed up to acquire the DUO Tower and DUO Galleria in Singapore for about S$1.6bn (US$1.17bn). The partners bought the office and retail complex from developer M+S, which is a joint venture between Malaysian sovereign wealth fund Khazanah Nasional Berhad and Singaporean […]
Australian property group Centuria has bought a grade-A office building in Adelaide from Lendlease-managed Australian Prime Property Fund for A$127m (US$89.9m). Centuria acquired the 80 Flinders Street building in the city’s core CBD precinct on behalf of a new unlisted fund set to launch in August, the buyer announced. “As a market, Adelaide is continuing […]
New Zealand’s NZ Super Fund has agreed to invest NZ$300m (US$200.8m) into a hotel portfolio established by the Russell and Lockwood Property groups, marking the country’s largest off-market hotel deal ever. The $42bn sovereign wealth fund acquired the BreakFree Hotel in Christchurch, Auckland’s Four Points by Sheraton and Adina Auckland Britomart hotels for a new […]
US-headquartered Bain Capital Credit has committed US$300m to Chinese developer D&J China to fund its expansion into top-tier cities around the country. Shanghai-based D&J China develops, owns and operates office/innovation and manufacturing parks, and has built a sizeable portfolio, primarily in Beijing, Shanghai and Shenzhen. Shanghai Jinchuang Park, one of D&J China’s business parks (image: […]
Singapore-listed Ascendas India Trust has agreed to forward purchase a 325,503 sq.ft. warehouse development in the Arshiya Free Trade Warehousing Zone in Panvel for S$42.1m (US$31m). The trust will fund the construction of the property and acquire the asset from logistics firm Arshiya when it is completed, the buyer said. The new project will join the […]
Alan Tan (image: Knight Frank) Knight Frank Singapore has appointed Alan Tan to head of KF Property Network, where he will oversee a team of more than 600 real estate professionals. Tan brings more than two decades of industry experience to the role, having worked with developers, as well as leading the real estate agency business […]
Warburg Pincus-backed ESR has agreed to buy two large-scale warehouse developments in the Indian cities of Jhajjar and Nagpur from logistics specialist Future Market Networks. The warehouse projects will offer a combined 1.3m sq.ft. in Nagpur, the third-largest city of Maharashtra, and Jhajjar, a city in the state of Haryana, FMN said in a regulatory notice. […]
Online discount retailer Vipshop has bought a portfolio of five retail outlets in China for RMB 2.9bn (US$421.7m), as more e-commerce players expand into traditional retail. Vipshop acquired the retail outlet business Shan Shan Commercial Group from Ningbo Xingtong Chuangfu Equity Investment Partnership and Shan Shan Group, according to a statement. Headquartered in Ningbo, Zhejiang […]
Australia’s largest superannuation fund, AustralianSuper, and logistics property firm Logos have teamed up to develop a NZ$500m (US$333.2m) logistics estate in Auckland. The partners plan to develop up to 120,000 sq.m. of prime logistics space at the Wiri Logistics Estate, having already started development on a 15,700 sq.m. purpose-built facility in April this year. Logos […]
Here is our round-up of recent research and trends from across Asia Pacific real estate: JLL: Hong Kong office, high street values may fall up to 5% in H2 2019 The ongoing US-China trade war and uncertain global economic outlook will weigh on grade A office and high street prices and rents in the second […]
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