Oxford, Investa Sell Sydney Office Building for $71M and More APAC Real Estate Headlines

Australia’s reviving office markets leads today’s look at real estate news from around the region, as Canada’s Oxford Properties exits a North Sydney asset. Also making the list are a deal to recapitalise a Lendlease retail fund and Singapore’s CapitaLand Investment struggling with sinking valuations for its China properties. 

Oxford Properties, Investa Sell North Sydney Office Building to Wentworth for $71M

A fund invested by Canada’s Oxford Properties has sold the former MLC Building in North Sydney to Wentworth Capital for just over A$100 million ($71.3 million), with the Australian fund manager said to be planning to refurbish the 14-storey building at 105 Miller Street.

Wentworth is said to be planning a new life for the historic building as a Grade A office block after Investa in 2023 saw plans to redevelop the site as a 27-storey complex rejected by local authorities. Read more>>

Lendlease, CBUS Said to Have Struck Deal to Recapitalise $1.7B Retail Fund

Superannuation-backed heavyweight Cbus Property is striking an audacious deal to recapitalise Lendlease’s rocky A$2.4 billion ($1.7 billion) shopping centre fund. The transaction will mean the industry super giant effectively takes ownership interest in four major malls by buying units in the wholesale fund.

The deal, still in due diligence, would be a boost for Lendlease after it was hit by investor redemptions that prompted it to announce it would wind up the fund and sell off the assets. The fund is part of the A$10 billion APPF empire run by Lendlease that came under pressure from unhappy investors who tried to oust its manager. Read more>>

CapitaLand Investment Reports 70% Net Income Drop as China Asset Values Slide

CapitaLand Investment’s shares fell 3.5 percent after the Singapore-based property asset manager posted a sharp drop in earnings, with valuation losses in one of its largest markets, China, still weighing on profit.

The firm, majority-owned by Singapore state investor Temasek, saw its net income for 2025 slump 70 percent to S$145 million ($115 million). The results, unveiled Wednesday, came significantly below the S$663 million average estimate of analysts compiled by Bloomberg. Revenue fell 24 percent to S$2.1 billion, largely matching the average analyst estimate. Read more>>

China’s Dajia Life Said Hiring Eastdil to Market Waldorf Astoria

China’s Dajia Life Insurance is said to be preparing to put the Waldorf Astoria up for sale only months after it reopened following a multibillion-dollar, much-delayed overhaul.

The state-run insurer is expected to begin marketing the hotel as soon as next month through the real estate investment bank Eastdil Secured, according to people with knowledge of the plans. The historic hotel reopened this past fall after an eight-year gut renovation that created a smaller hotel with 375 guest rooms and 372 condominium units for sale. Read more>>

Centurion REIT Wins Provisional Approval to Expand Singapore Dormitory

Centurion Accommodation REIT has received provisional permission from the Urban Redevelopment Authority to develop an additional six-storey block and to alter the existing eight-storey block in Westlite Ubi dorm.

The proposed works will add 540 beds to the dorm, bringing the total number of beds to 2,190, the trust’s manager said Tuesday, adding that the land premium payable to JTC in relation to the proposed works is S$13.9 million ($11 million), to be funded via committed debt facilities. Read more>>

Wing Tai and CSI Top Out Commercial Project in Hong Kong’s Central

Wing Tai Properties and CSI Properties on Wednesday announced the topping out of Central Crossing, a development at 118 Wellington Street in Hong Kong’s Central district scheduled for completion in mid-2026.

The announcement marks the structural completion of a 433,000 square foot (40,227 square metre) development on a site that the two companies won in a 2017 project tender for a reported HK$11.6 billion ($1.5 billion). The project combines office, hotel and retail space. Read more>>

Shenzhen Govt Said Preparing $11.6B China Vanke Rescue Package

China’s Shenzhen municipal government is drafting a rescue package worth RMB 80 billion ($11.6 billion) for distressed state-backed developer China Vanke, financial publication Octus reported Wednesday.

The move follows the central government’s directives to allow “no default”, the report said, citing sources briefed on the matter. Vanke did not immediately respond to a Reuters request for comment. The Shenzhen government and the state-owned Assets Supervision and Administration Commission of the State Council could not be immediately reached for comment. Read more>>

GIC Said Exploring Sale of Stake in European Data JV With Equinix

GIC is considering a sale of its 80 percent stake in a European data centre joint venture, a potential deal that could value the business at €2 billion ($2.4 billion) including debt, people with knowledge of the matter said.

The Singaporean wealth fund is working with Eastdil Secured to gauge buyer interest in the stake, which could fetch €800 million to €1 billion, the people said. GIC’s JV partner Equinix, which owns the remaining 20 percent stake, plans to stay invested, they said. Read more>>

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