Gaw Capital led a consortium of Asian investors to purchase 123-151 Buckingham Palace Road for £500 million
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Met Life, TH Real Estate Loan $414M for Gaw’s London Deal
MetLife and TH Real Estate have financed Gaw Capital Partners’ purchase of a London office asset. MetLife said it provided £149.5m (€207.5m), while TH Real Estate, on behalf of TIAA-CREF, provided £124.6m.
The fixed-rate £274.1m loan, which has a 10-year term, was provided at a 55% loan-to-value ratio, and Gaw Capital completed its purchase of the property from Malaysia’s Lembaga Tabung Haji in October. Read more>>
HK Home Prices Fall for First Time in Nearly Two Years
Hong Kong’s official home price index ended a 19-month rally in October with small units in the New Territories seeing the largest fall. Analysts expect worse to come.
The Rating and Valuation Department’s monthly supplement, released on Friday, showed the general price index for private homes retreated 1.11 per cent month on month to 302.6 in October after peaking in September. Read more>>
Hang Lung’s Chan Says China Suffers Shortage of Quality Malls
Despite China’s recent economic slowdown, Hang Lung Properties, Hong Kong’s leading developer, remains confident about developing shopping malls in the country.
“A lot of people say China is overbuilt, but it is overbuilt with poor-quality shopping centers,” Ronnie Chan, chairman of Hang Lung, said at a property conference here Wednesday. “There is a shortage of good-quality shopping malls.” Read more>>
Gaw’s $1.5B Fund to Focus on Retail and Office Opportunities in China
Private equity fund management firm Gaw Capital Partners said it would focus its new Asia real-estate fund, targeting to raise $1.5 billion, on investing in greater China’s retail, office and hospitality property in first and major second-tier cities.
The fund is also interested in logistics property, despite some saying China was starting to see too much supply, Gaw’s Chairman Goodwin Gaw told reporters on the sidelines of a MIPIM Asia summit on Tuesday. Read more>>
CIFI Contracted Sales Hit Record High for Three Consecutive Months
CIFI Holdings (Group) Co. Ltd. (“CIFI”, or the “Group”, HKEX Code: 884), one of the “Top 100 Real Estate Developers in China” is pleased to announce that contracted sales hit record high for three consecutive months. Contracted sales in the first eleven month of 2015 exceeded the full year 2015 contracted sales target.
The Group achieved contracted sales of approximately RMB 4.05 billion, hit record high for the Group’s monthly contracted sales, representing a year-on-year increase of approximately 88% compared to November 2014 and a month-on-month increase of approximately 1% compared to October 2015. Read more>>
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