Singapore-listed Frasers Property plans to merge its logistics real estate businesses in Australia and Europe into a S$5.4bn (US$3.97bn) global logistics platform. Frasers will also combine the asset and property management business of Singapore-listed Frasers Logistics & Industrial Trust (FLT) into the new entity, the company announced. Reini Otter and Matt Knox, of Frasers Property’s […]
Tokyo-listed Japan Prime Realty Investment Corporation (JPR) has bought an office building and a retail property in Tokyo from its parent company for a combined JPY 9.55bn (US$89m). The real estate investment trust is managed Tokyo Realty Investment Management, a subsidiary of Japanese property group Tokyo Tatemono. The J-REIT also announced the sale of its […]
Chinese retailer Suning.com will takeover Carrefour China, the French retailer’s China business, after agreeing to acquire an 80% equity stake in the business for €620m (US$704m). Dating back to 1995, Carrefour China has a network of 210 hypermarkets and 24 convenience stores across the country. The transaction will accelerate Suning.com’s expansion in all categories merchandise […]
Hong Kong’s Central district is once again the world’s priciest prime office market, with five other Asian markets joining the top 10, according to advisor CBRE. Hong Kong Central prime office rents stood at $322 per sq. ft. per year during the 12 months to end-March, ahead to London’s West End market, where rents are […]
Australian superannuation fund Rest taken full control of the largest wind farm in Western Australia after acquiring the outstanding 60% stake from UBS Asset Management Real Estate & Private Markets. The Collgar Wind Farm is built on 18,000 hectares of land and is located near Merredin, about 250km east of Perth, REST announced in a […]
Outbound real estate capital from Asia Pacific dropped 34% to US$57bn during the past 12 months after Chinese capital outflows declined 83%, says advisor Knight Frank. Chinese outbound investments fell from $34.5bn during the 12 months to 1Q18 to $5.7b in 1Q19, turning the country into a net importer in the year to 1Q19. “The […]
Flexible office space take-up is projected to slow down across Asia Pacific this year after the rapid expansion witnessed in 2018, with significant M&A also on the cards, says advisor Colliers. “In 2018 we witnessed the highest annual growth in the sector across the region, with total space occupied by flexible workspace operators increasing by […]
Ascendas India Trust has forward purchased an IT complex development in Pune, Maharashtra, as it grows its existing footprint in the Indian city. The trust agreed to acquire the BlueRidge 3 project from Nalanda Shelter and Brickmix Developers for an undisclosed price, the company said in an announcement. The project is an IT/ITES (Information Technology […]
Asia Pacific-focused logistics property firm ESR is planning to raise as much as HK$9.76bn (US$1.24bn) from its initial public offering on the Hong Kong stock exchange. Warburg Pincus-backed ESR announced it was offering 560.7m shares at a price range between HK$16.20 and HK$17.40 in a statement last week. The firm has assets and developments spanning […]
Australian property group Mirvac has entered into a binding agreement to acquire a Build-To-Rent apartment tower in Melbourne’s CBD for A$333.5m (US$233.2m), its first BTR deal in the city. Mirvac, which has A$18bn of assets under management, has purchased the 490-unit Munro development from developer PDG on a fund through basis, the buyer said. The […]
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