New World Shares Slump as Liability Talks Stall and More APAC Real Estate Headlines

In today’s roundup of real estate headlines, New World pushes back on speculation about investor talks and its 11 Skies project near Hong Kong International Airport, Blackstone raises $1.75 billion for a US data centre REIT, and Indian tycoon Gautam Adani and his nephew agree to pay $18 million to settle SEC fraud allegations.

New World Admits Investor Talks Stalled as Blackstone Walks, Airport Authority Balks

New World Development’s shares fell almost 7 percent last week after Bloomberg reported that Blackstone had abandoned a proposed $4 billion investment in the developer because the Cheng family refused to cede control. In a statement to the stock exchange, New World confirmed it has reached no agreement with any potential investor and that talks with Airport Authority Hong Kong over contractual arrangements for its HK$20 billion ($2.6 billion) 11 Skies airport mall remain unresolved.

Bloomberg reported that competing suitors — including a consortium led by RRJ Capital and Ares Management — are willing to accept minority positions in the developer, but have made resolution of roughly HK$70 billion in liabilities tied to the 11 Skies project’s long-term rental agreement a prerequisite for any deal. Read more>>

Blackstone Raises $1.75B for Data Centre Acquisition Trust in US IPO

Blackstone has raised $1.75 billion through a US initial public offering for its Digital Infrastructure Trust, a data centre acquisition vehicle targeting already-built and leased properties benefiting from the artificial intelligence boom. The trust sold 87.5 million shares at a fixed price of $20 each, according to a statement Wednesday.

The listing reflects continued strong investor appetite for AI-linked infrastructure assets. Read more>>

Adani and Nephew Agree to Pay $18M to Settle SEC Fraud Allegations

Indian billionaire Gautam Adani is on the cusp of ending a series of legal threats in the US, paving the way for Asia’s richest man to ramp up investment and capital raising after months of battling allegations including fraud and bribery.

Adani and his nephew Sagar agreed to pay a total of $18 million to settle Securities and Exchange Commission allegations they made false and misleading representations about Adani Green Energy Ltd., according to a proposed agreement filed in federal court Thursday. Read more>>

Blackstone’s AirTrunk Markets $2.3B Loan for Malaysia Data Centre

Blackstone-owned data centre operator AirTrunk is marketing a $2.3 billion loan to fund its AirTrunk JHB2 facility, a 200-megawatt project in Johor in southern Malaysia. About a dozen lenders including DBS Group Holdings, Credit Agricole, ING Bank and United Overseas Bank are arranging the three-year loan.

The financing is part of a broader wave of technology-linked lending in Southeast Asia driven by the artificial intelligence boom, according to people familiar with the matter. Read more>>

BlackRock’s GIP, ADNOC and Temasek Launch GCC Infrastructure Partnership

Global Infrastructure Partners, part of BlackRock, has announced a proposed infrastructure investment partnership with Abu Dhabi sovereign fund L’imad, energy giant ADNOC and Singapore’s Temasek targeting opportunities across the Gulf Cooperation Council and Central Asia. The partnership will raise equity and debt capital across energy, transport, logistics, digital, water and waste management assets.

The venture will pursue both greenfield and brownfield infrastructure investments and may also consider select opportunities in the broader Middle East and North Africa region, the partners said. Read more>>

Cadence Closes on Buy of Brisbane Warehouse Complex From CapitaLand Ascendas REIT

Australian fund manager Cadence Property has completed its acquisition of a warehouse complex in suburban Brisbane from CapitaLand Ascendas REIT for A$102 million ($69 million), following the signing of a purchase agreement for the 41,318 square metre (444,743 square foot) property in November last year.

In addition to the purchase of the property at 95 Gilmore Road, in Berrinba, Cadence also recently completed an institutional-grade cold storage facility at Truganina in Melbourne, spanning over 23,000 square metres including 16,000 square metres of purpose-built freezer space with capacity for 35,000 pallets. Read more>>

Sydney’s Halo Timber Tower Cleared to Proceed

Sydney’s 55-storey Halo timber office tower looks set to proceed after developer James Milligan secured a deed of company arrangement backed by administrator KPMG despite opposition from unsecured creditors. The project is part-owned by superannuation fund Cbus Property and is planned for the corner of Hunter Street and Pitt Street in Sydney’s city centre.

The clearance caps years of financial turbulence for the A$1.8 billion (US$1.2 billion) project, which Milligan assembled from more than 70 separate land titles before a planned sale to Lendlease fell through and second-ranked lenders issued a default notice. Cbus Property stepped in last September to acquire a 50 percent stake. Read more>>

Hong Kong Court to Hear Evergrande Creditor Lawsuit on Monday

The liquidators of China Evergrande Group’s lawsuit against PricewaterhouseCoopers (PwC) International will have their case heard in the Hong Kong High Court on Monday, according to records posted on the judiciary’s website. 

The one-day hearing was scheduled before Deputy Judge Patrick Fung Pak-tung of the High Court and would be open to the public, the court information showed. It concerns efforts by Evergrande’s liquidators to seek claims from PwC International over the developer’s auditing issues. Read more>>

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