Brookfield Nears $318M Sydney Office Deal and More APAC Real Estate Headlines

Sydney’s recovering office market leads today’s look at real estate news from around Asia Pacific, as Brookfield is said to be nearing a deal with local player Centuria. Also making the headlines are Kerry Properties picking up a residential site in Hong Kong and fund management startup Avatar adding to its Tokyo portfolio. 

Brookfield Nears $318M Sydney Office Deal With Centuria

Brookfield Asset Management is said to be in advanced talks to sell 50 percent stakes in a pair of office buildings in Sydney’s central business district for around A$450 million ($317.6 million), according to an account in the Australian.

The prospective buyer for the assets at the World Square complex is Sydney-based investment manager Centuria Capital, with Brookfield having initiated a marketing effort for the properties at 680 George Street and 50 Goulburn Street last year. Read more>>

Kerry Properties Wins Hong Kong Land Sale With $177B Bid

Hong Kong-based Kerry Properties has won a residential plot in Shau Kei Wan for HK$1.38 billion ($177 million), in a tender that drew heavy bidding interest from both mainland Chinese and local developers.

Kerry beat seven other bidders for a 50-year grant for the 1,349 square metre (14,523 square foot) parcel in the Eastern district, the Lands Department said Monday. The plot is expected to provide a total gross floor area of over 130,000 square feet, yielding 300 residential units, according to Kerry. Read more>>

Avatar Capital Partners Buys 250-Unit Tokyo Project

Avatar Capital Partners has agreed to purchase a new multi-family residential property in central Tokyo, adding nearly 250 units to its portfolio of Japanese homes. 

The investment manager led by partners Angel Li and Ryuta Ueda announced the acquisition just over a half-year after reaching a final close of JPY 15.2 billion ($105 million) on its inaugural fund. Read more>>

JLL Names EY Veteran to Put Australia Business Back on Track

Real estate company JLL has turned to an outsider from professional services firm EY to lead its Australasian operations as it seeks to put a scandal-plagued year behind it.

The US giant has appointed EY partner Selina Short as chief executive of its Australia and New Zealand units as it looks to reset after a bruising year in which former CEO Dan Kernaghan and other senior figures were ousted as cultural problems in its industrial property business were exposed. Read more>>

Indonesia’s PT Telekom Explores $1.5B Sale of Stake in Data Centre Business 

PT Telkom Indonesia is reviving a plan to sell a stake in its data centre business to tap rising interest in digital infrastructure assets, according to people familiar with the matter.

The Jakarta-listed company is working with financial advisors on a potential sale of a majority holding in NeutraDC, the people said, asking not to be identified discussing private information. Telkom Indonesia is seeking a valuation of $1 billion to $1.5 billion for the business, the people said. Read more>>

Charter Hall Signs Aldi as Tenant for Victoria Logistics Facility, Expands Queensland Deal

Charter Hall announced that it has deepened its long-standing partnership with Aldi with a new large-scale warehouse and office facility in Tarneit, Victoria and an expansion of its existing facility in Brendale, Queensland.

At Tarneit Logistics Hub, owned by Charter Hall’s flagship A$14 billion ($9.9 million) CPIF fund, Aldi has committed to a 20-year pre-lease agreement and is developing a 102,000 square metre (1.1 million square foot) ambient and temperature-controlled warehouse and office facility. Read more>>

GDS’s DayOne Announces Johor Operational Hub

DayOne, the offshore unit of China’s GDS Data Centers, is establishing a regional operations and training centre in Johor and expanding its service centre in Kuala Lumpur. 

The Johor facility is designed to train data centre operation engineers, aiming to develop technical talent for regional deployment, including site supervisors, lead engineers and operations heads. In parallel, DayOne is expanding its global shared services centre in Kuala Lumpur, now entering Phase II and expected to employ more than 200 local professionals when fully scaled. Read more>>

Lendlease, Aware Super Line Up $450M Refinancing for Brooklyn Towers

Lendlease and Aware Super have obtained a $450 million refinancing loan for The Riverie, an 834-unit luxury development in Brooklyn, New York, as first reported by Commercial Observer. Ares Management issued the loan in a deal arranged by CBRE.

This debt retires a previous $360 million construction note that Bank of America, Mizuho Bank, Oversea-Chinese Banking Corp and TD Bank had originated in 2022. Read more>>

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