Charter Hall managing director and CEO David Harrison
In today’s review of real estate news from around the region, Charter Hall wins regulator clearance to take over management of an $863 million CareSuper portfolio, Amazon seeks environmental approval for a data centre near Mumbai, and Keppel DC REIT posts a 13.2 percent jump in first-quarter distributions on the back of Tokyo and Singapore acquisitions.
Charter Hall Takes Over Management of $863M in CareSuper Real Estate Funds
After winning approval from the Australian Competition and Consumer Commission last month to take over the fund management business of JGS Private Capital, ASX-listed Charter Hall is now the manager of A$1.2 billion $863 million in property funds backed by Melbourne-based superannuation fund CareSuper.
JGS Private Capital served as trustee of eight unit trusts on behalf of CareSuper, according to the ACCC statement, with seven of the trusts investing in commercial real estate and the eighth being a finance vehicle. Following the 20 March regulatory decision, Charter Hall had announced the mandate last week, without naming the client, with Green Street News having connected the JGS funds to the mandate announcement. Read more>>
Amazon Applies to Build $429M Data Centre Campus Near Mumbai
Amazon Data Services India has applied for environmental clearance to build a data centre on a 197,692 square metre (2.1 million square foot) site near Taloja on the outskirts of Mumbai. The company plans to invest INR 40 billion ($428.7 million) in the facility, which will include six buildings with four seven-storey data centre blocks.
Amazon acquired the plot from Macrotech Developers for INR 4.5 billion in November 2024, according to the application filed with the State Environmental Impact Assessment Authority. Read more>>
Near-Sellout Launches Drive Singapore Developer Sales to March High
Developers in Singapore sold 1,300 private homes in March, up 78.3 percent year-on-year and the highest March total since 2017, according to data from the Urban Redevelopment Authority. The surge was driven by strong project launches, including the 455-unit River Modern, which sold 90 percent of units in its opening weekend.
Including executive condominiums, 1,937 homes changed hands during the month. The Core Central Region recorded 472 sales, its strongest first-quarter showing since 2010, according to Knight Frank research. Read more>>
Mitsui Fudosan Names Tokyo Hibiya Megaproject ‘Hibiya Crosspark’
Developers including NTT Group companies, Mitsui Fudosan and Daiichi Life Insurance have branded their large-scale Hibiya redevelopment as Hibiya Crosspark, positioning the mixed-use district as a central Tokyo hub linking key commercial areas such as Otemachi, Marunouchi and Ginza.
The project will span more than 1.1 million square metres (11.8 million square feet) of floor area across three zones and incorporate offices, retail, hotels and public spaces, with phased completion starting in fiscal 2028 and extending to 2031. Read more>>
GIC, Tosei Extend Tender Offer Deadline for Japan’s Sankei REIT for Fifth Time
A consortium seeking to take Sankei Real Estate Inc private has extended its tender offer for the Tokyo-listed J-REIT’s units to 28 April. The move follows the company’s disclosure of a JPY 4.9 billion ($30.9 million) impairment on the Fukuoka Green Building and the suspension of distributions for the fiscal period ended February 2026.
The bidders, Singapore sovereign giant GIC and Japan’s Tosei Asset Advisors, said the JPY 125,000 per unit tender price remains adequate despite the revised outlook. The building lost a major tenant in 2025, delaying restoration and leasing plans. Read more>>
Phoenix Property Investors Sell Osaka Office Building to Japanese Private REIT
Phoenix Property Investors has sold a 10-storey Grade B office building in Minamisenba, Osaka, to a Japanese private REIT, exiting the investment 25 months ahead of its underwritten sale date after acquiring the asset off-market in April 2023.
Phoenix carried out light renovations and converted underused space into offices, achieving full occupancy ahead of the March 2026 sale. The deal marks the first exit for the firm’s Pan-Asia Core-Plus Investments Fund. Read more>>
Keppel DC REIT Posts 13% Rise in Q1 DPU on Tokyo and Singapore Acquisitions
Keppel DC REIT reported first-quarter distribution per unit of S$0.02833 ($0.02), up 13.2 percent year-on-year, as distributable income rose 20.7 percent to S$74.6 million. Net property income climbed 19.4 percent to S$105.2 million.
The growth was driven by contract renewals, rent escalations and contributions from Tokyo Data Centre 3 and additional interests in Keppel DC Singapore 3 and 4. Portfolio occupancy stood at 95.6 percent with a weighted average lease expiry of 6.5 years. Read more>>
National Storage REIT Securityholders Back Brookfield-GIC Buyout With 97.9% Vote
Securityholders of National Storage REIT have approved the proposed takeover by a consortium of Brookfield Asset Management funds and affiliates of GIC, with 97.91 percent voting in favour. The scheme now awaits final approval from the Supreme Court of New South Wales on 21 April.
If approved, the REIT’s securities will be suspended from trading on the Australian Securities Exchange that day. The scheme record date is 29 April, with implementation targeted for 8 May. Read more>>
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