La Caisse president and CEO Charles Emond
DigitalBridge and La Caisse complete their purchase of hyperscaler Yondr Group, with that deal leading today’s headline roundup. Also in the news, a BlackRock Japan real estate fund wins a new investor and Malaysia imposes higher power tariffs on big users like data centres.
DigitalBridge, Caisse Complete $5.8B Buyout of Data Centre Platform Yondr
DigitalBridge and La Caisse (formerly CDPQ) have completed their acquisition of Yondr Group, a global developer, owner and operator of hyperscale data centres, from Cathexis Holdings. DigitalBridge and La Caisse see the deal as positioning Yondr to accelerate its expansion in strategic markets and meet surging demand for hyperscale and AI-driven data centre solutions.
La Caisse is investing alongside DigitalBridge-managed investment vehicles and has assumed joint control of Yondr. In connection with the completion of the acquisition, Aaron Wangenheim has been appointed as CEO and Sandip Mahajan as chief financial officer, effective immediately. Read more>>
BlackRock Residential Venture Wins Backing From Japanese Crowdfunding Platform
Syla Technologies has invested in an investment project of a real-estate-focused private fund managed by BlackRock and targeting seven properties in the Tokyo and Osaka areas, primarily planned to be used for private lodging.
Some of the properties will be managed by Dash Living, a company that specialises in private lodging management. As part of the deal, Syla has transferred five buildings under the Syforme brand to a private placement fund managed by BlackRock’s real estate division, according to a statement. Read more>>
Malaysia Data Centre Investors Could Face 14% Jump in Electricity Costs
The operators of energy-hungry data centres in Malaysia are scrambling to reassess costs after steeper-than-expected power tariffs kicked in Tuesday, industry players said, clouding prospects for the Southeast Asian hub of digital investments.
Competitive rates for electricity, which forms the bulk of operating costs, make Malaysia a magnet for data centres compared with land-scarce neighbour Singapore, luring billions of dollars in investment from companies like Microsoft and Google. Read more>>
IGIS Resumes Marketing of KIC-Backed Seoul Hotel After Morgan Stanley Talks Collapse
Shilla Stay Seodaemun has been put on the market again amid signs of a recovery in South Korea’s hospitality industry, after earlier attempts to sell the four-star hotel in Seoul fell through.
IGIS Asset Management recently appointed Deloitte Anjin as a new sale manager for the property to resume the sale process, according to investment banking sources Wednesday. Read more>>
New World Shares Surge After $11.2B Debt Deal
New World Development shares surged to their highest level this year after the company closed a record $11.2 billion loan refinancing package, helping ease investor anxiety.
The Hong Kong builder’s stock jumped as much as 11 percent, leading its peers in a gauge of developers in the financial hub. Trading volumes climbed to four times the three-month average around midday. Read more>>
Pacifica Signs Deal to Rebrand Kyoto Hotel Under IHG’s Garner Marque
Pacifica Hotels subsidiary Karasuma Hospitality has signed a franchise deal with IHG Hotels & Resorts to rebrand a 103-room hotel in a prime Kyoto location to Garner, IHG’s new midscale brand.
The hotel is scheduled to open in November and will be called Garner Hotel Kyoto Shijo Karasuma, following an extensive interior renovation with strong Kyoto design influences. It will be the first Garner in Kyoto and the fourth in Japan. Group company Pacifica Capital is handling project management for the renovation. Read more>>
School Leases Bring Gaw Capital London Project to 99% Occupancy
Real estate advisor Savills, on behalf of Gaw Capital, has agreed a number of expansions for businesses at Harbour Exchange’s HX1&2 in London’s Docklands area, bringing the building to 99 percent occupancy.
Elizabeth School London originally acquired 57,951 square feet (5,384 square metres) of space in 2023, and following a successful planning application for a change to educational use it has now taken part of the first, fourth, ninth, 10th and 12th floors at HX1&2. Similarly, SP Jain School of Management had occupied 21,464 square feet and is now under offer to expand on the second floor following a change of use permission. Read more>>
Hong Kong Pawnshop Operator Files for Bankruptcy of Shop King’s Family Business
A unit of Hong Kong-listed Oi Wah Pawnshop Credit recently filed an application with the city’s High Court for a bankruptcy petition against the estate of Tang Shing-bor and two sons of the late “Shop King”. The court has scheduled the case for hearing at 2.30pm on 30 September.
The Tang family has been in financial trouble in recent years and has accelerated the sale of properties. But market conditions have not improved, and the prices of its properties have dropped significantly, with some industrial units formerly held by the family in Kwun Tong having recently sold for around one-third of their purchase price. Read more>>
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