Private equity giant KKR has received a $50 million capital commitment to its new Asia Pacific infrastructure strategy from the Employees Retirement System of Texas, as real estate fund managers continue to rake in cash from state institutions in the… Read More>>
Singapore CBD Office Rents Neared Pre-COVID Peak in Q2 Says JLL
Grade A office rents in Singapore’s central business district have recovered to within striking distance of their pre-pandemic peak and could exceed that level soon, according to research by JLL.
Gross effective rents for Grade A office space in the… Read More>>
Frasers’ FLCT Buying UK Logistics Development From Stoford for $124M
Frasers Logistics & Commercial Trust has agreed to acquire a logistics project in northwestern England for £101 million ($124 million), marking the Singapore-listed REIT’s fourth industrial investment in the UK.
FLCT is buying the property at Ellesmere Port in the… Read More>>
Logos, Sime Darby Reach First Closing of $250M Malaysia Development Fund
A joint venture of Logos and Sime Darby Property has achieved a first closing of its investment vehicle targeting development of logistics assets in Malaysia after securing 70 percent in capital commitments for a fund size of up to $250… Read More>>
Boustead Projects JV Picks Up Sin Capital’s Orchard Road Tower for $371M
A joint venture led by developer Boustead Projects has agreed to acquire a mixed-use building near Singapore’s swanky Orchard Road for S$515 million ($371 million), taking advantage of a distressed-asset sale to pick up a prime property at a discount.
China Aoyuan to Sell 49% of Australia Unit at $170M Loss
Defaulting developer China Aoyuan has agreed to offload a large chunk of its Australia division to an entity controlled by one of the subsidiary’s executives, as the Guangzhou-based group joins the flow of Chinese companies exiting investments Down Under.
Aoyuan… Read More>>
Hong Kong’s Kingboard to Buy London Commercial Building From Brookfield for $360M
Kingboard Holdings has struck a deal to buy a central London commercial building for £293.6 million ($360 million), snapping a four-and-a-half-year pause in UK acquisitions for the Hong Kong-based laminates maker and property investor.
The 16-storey building, called 2 London… Read More>>
Sunac Seeks Second Extension for Onshore Bond and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Sunac China is reportedly in talks about a rare second extension on part of an onshore bond payment, as mainland developers prepare to sit down with financial institutions next month to discuss liquidity… Read More>>
GIC, APG Acquiring ‘Substantial’ Stake in $2.2B European Student Housing Provider
Singapore sovereign investor GIC and Dutch pension fund manager APG have agreed to acquire what they term a “substantial” stake in Amsterdam-based The Student Hotel, in a deal valuing the hybrid student hostelry operator at €2.1 billion ($2.2 billion).
TSH’s… Read More>>
S&P Downgrades Shanghai’s Greenland, Likens Bond Extension to Default
S&P Global Ratings on Wednesday downgraded Greenland Holding after judging the mainland developer’s payment extension on an offshore bond as a default in all but name.
The agency cut the long-term issuer rating on Greenland, whose controlling shareholder is Shanghai’s… Read More>>
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