William Huang, chairman and chief executive of GDS Holdings also chairs DayOne
Funding for data centres leads today’s look at real estate news from around Asia Pacific, with the Singapore-based unit of China’s GDS raising over $1 billion in mezzanine financing to expand its Finnish business. Also making the list, is Savills buying a Singapore systems provider and China’s Country Garden chalking up a couple of wins in its restructuring struggle.
GDS’ DayOne Raises Up to $1.2B From Brookfield and SWF for Finland Data Centres
Chinese data centre operator GDS’ DayOne unit has secured a mezzanine financing facility of €500 million, expandable up to €1 billion ($1.2 billion) from global investment firm Brookfield and a global sovereign investor, according to an announcement on Thursday.
DayOne is securing the debt with its Finland data centre business, with proceeds of the facility used to support the rollout of hyperscale projects in the cities of Lahti and Kouvola. The facility also provides the flexibility to allocate proceeds to other key growth markets as required, enabling DayOne to capture rising AI and cloud infrastructure demand, the company said. Read more>>
Savills Buys Singapore Property and Facility Management System Provider
Savills has acquired a majority shareholding in Alpina Holdings, a Singapore based property and facilities management platform, according to a statement on Thursday, with the property consultancy taking an initial 70 percent stake in the firm with options to increase that holding to 100 percent by 2030.
Savills presented the acquisition as supporting its goal of establishing a fully integrated property management, integrated facilities management and facilities services platform for its clients. Read more>>
Country Garden Moves Forward with Offshore and Onshore Debt Restructuring
Country Garden Holdings, once China’s biggest developer, has obtained court approval for its overseas debt restructuring plans as well as creditor approval for domestic ones, while its main management team has gone through significant adjustments.
Country Garden’s creditors approved its domestic debt restructuring plan involving nine debts worth around RMB 13.8 billion (US$2 billion), the Foshan-based company announced late yesterday. Read more>>
ADIC, Challenger Set to Sell $245M Gold Coast Mall, Hotel to Taiwan Investor
Australia’s Challenger Life and the Abu Dhabi Investment Council are closing on the sale of a combined retail and hospitality complex in Queensland’s Surfer Paradise for A$370 million ($245 million), according to a local media report.
The prospective buyer of the Paradise Centre and the Novotel Surfers Paradise is Taiwan investment group Forest Endeavour, which is controlled by the Lin family, which also owns Helensvale Homeworld and an industrial site on the Gold Coast it acquired from Sydney-based fund manager Dexus. Read more>>
Vantage Switches on Fully Leased 16MW Data Centre in Malaysia’s Cyberjaya
Vantage Data Centers on Thursday announced that the fourth facility on the company’s first Cyberjaya campus in Malaysia is now operational, completing development of its KUL1 campus.
The 16MW KUL14 data center is fully leased to a single customer, with the company’s Asia Pacific portfolio now having 1GW of operational and planned IT capacity across Australia, Malaysia, Japan, Taiwan and Hong Kong. Read more>>
New World Still Faces $6.8 in Bond Liabilities as Swap Falls Short
Distressed Hong Kong developer New World Development’s bond swap plan is set to trim about $1.2 billion from the company’s debt pile, but it is still facing liquidity strains with one of the heaviest debt burdens of any builder in the city.
New World proposed the plan last month and set a goal of issuing up to $1.9 billion of new debt in exchange for existing notes, but it fell short of that amount as it didn’t attract full support from creditors. That leaves further work for the builder to manage its $6.8 billion in existing bonds, according to Bloomberg-compiled data. Read more>>
Australia’s Dexus Prices $331M in Subordinated Notes
Dexus on Friday announced that it had priced an A$500 million ($331 million) subordinated notes issue in the domestic Australian fixed income market, with the notes reflecting an implied yield of 5.48 percent based on across two tranches.
The first tranche comprises A$250 million in 30-year floating rate notes with a non-call period of 5.25 years at a margin of 1.75 percent over the local 3-month benchmark, with a second A$250 million tranche of 30-year fixed rate notes having a non-call period of 8.25 years at an initial coupon of 6.30 percent. Read more>>
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