Hulic chairman Saburo Nishiura
Real estate deal-making across Asia Pacific is in focus today, as Mapletree Logistics Trust deepens its footprint in India’s fast-growing Mumbai logistics market, Blackstone moves closer to an exit from one of Sydney’s most prominent office towers, and Manulife US REIT reports a portfolio valuation dip alongside rising vacancies in its US office portfolio.
Hulic Recapitalises Yokohama Tower in $456M-Plus Sale
Hulic has agreed to sell the Hulic Minatomirai building in Yokohama to a domestic special purpose company in which the developer retains a minority interest, effectively recapitalising the 24-storey, 102,319 square metre (1.1 million square foot) asset.
The undisclosed sale price exceeds JPY 72.7 billion ($456.1 million), representing more than 10 percent of Hulic’s fiscal 2025 consolidated net sales, with agreement and settlement both scheduled for late March 2026. Read more>>
Mapletree Logistics Trust Acquiring $41M Mumbai Warehouse
Singapore-listed Mapletree Logistics Trust has proposed acquiring a Grade A warehouse in Bhiwandi, Mumbai, for INR 3.9 billion ($41.4 million), funded entirely by debt. The newly completed property has a net lettable area of 79,378 square metres (854,418 square feet).
Fully leased to two listed food and grocery e-commerce companies serving as main Mumbai distributors, the property carries a weighted average lease term of 3.9 years with built-in annual rent escalations, the trust said. Read more>>
Blackstone Said Seeking $628M for Sydney’s JP Morgan Tower
Blackstone could fetch A$900 million ($628 million) from the sale of Sydney’s JP Morgan Tower, a premium city-centre office building at 85 Castlereagh Street, The Australian reported. The tower is one of the most significant office assets to come to market in Australia in recent years.
The transaction would represent a major test of investor appetite for Australian prime office assets amid elevated interest rates and shifting occupancy patterns across Sydney’s city centre. Read more>>
Singapore’s Assembly Place Completes $70M Acquisition for Hotel Project
Singapore hospitality operator The Assembly Place has completed the acquisition of 163 Tras Street, an 11-storey freehold commercial building, through a joint venture in which it holds a 10 percent stake. The property will be converted into a 152-room hotel.
Formerly the Lian Huat Building, the S$90 million ($70.2 million) property is among Singapore’s latest sub-S$100 million deals, according to the Business Times, and has received provisional permission from the Urban Redevelopment Authority for conversion to hotel use. Read more>>
China Aoyuan Posts $2.6B Loss as Auditors Refuse Opinion on 2025 Accounts
China Aoyuan Group posted a net loss attributable to owners of RMB 17.8 billion ($2.6 billion) for 2025, against a RMB 35 million profit in 2024 when an offshore debt restructuring gain of RMB 26.2 billion boosted results.
The developer’s auditors declined to express an opinion on the 2025 financial statements, citing multiple going-concern uncertainties including current liabilities exceeding current assets by RMB 40 billion. Read more>>
Japan Real Estate Investment Corp Raises $423M for Acquisitions via Unit Offering
Japan Real Estate Investment Corp has announced a public offering of new investment units alongside acquisitions totalling JPY 67.5 billion ($423.4 million), including additional stakes in Akasaka Park Building and JRE Tenjin Crystal Building in Fukuoka.
The transactions will expand the office-focused J-REIT’s portfolio to 78 properties with a total asset size of JPY 1.2 trillion, JRE said. The trust is primarily sponsored by Mitsubishi Estate. Read more>>
Manulife US REIT Portfolio Value Slips 1.6% to $914M as Vacancies Rise
Manulife US REIT reported a 1.6 percent decline in portfolio valuation to $913.8 million as of 31 December 2025, with same-store net property income falling 13.7 percent to $49.3 million due to higher vacancies at its Diablo and Figueroa assets.
Portfolio occupancy fell to 67.7 percent from 73.6 percent a year earlier, and aggregate leverage stood at 58 percent. The manager said its key 2026 priority is achieving a minimum sale target by June under its Growth and Value Up Plan. Read more>>
Major Brisbane Hotels Including Crystalbrook Vincent Hit Market Ahead of Olympics
Several major Brisbane hotels, including the boutique Crystalbrook Vincent, have come to market ahead of the city’s 2032 Olympic Games, The Australian reported. The properties are attracting investor interest as Queensland’s hotel sector benefits from rising tourism and pre-Olympics capital expenditure.
Brisbane has emerged as one of Australia’s most active hotel transaction markets, with operators seeking to capitalise on growing demand for accommodation in the lead-up to the Games. Read more>>
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