Canada’s biggest pension fund manager is broadening its Japan real estate strategy with a JPY 19 billion ($170 million) capital commitment to a joint venture with property giant Mitsubishi Estate to invest in commercial and residential assets in Asia’s second-largest… Read More>>
China’s Sinic Holdings Warns of Second $250M Default in 10 Weeks
Sinic Holdings is staring at the prospect of a second $250 million default on offshore debt since mid-October, with the developer, which ranked as China’s 35th largest in 2020 by contracted sales, saying Wednesday that payments on a set of… Read More>>
Blackstone Buys European Warehouses From Macquarie, Singapore’s Elite for $586M
Blackstone has reprised one of its favourite investment themes with the acquisition of a European logistics portfolio from Australia’s Macquarie Capital Principal Finance and Singapore-based Elite Partners Capital for €520 million ($586 million).
The US private equity titan picked up… Read More>>
ESR Korean REIT Closes on $400M in Fresh Equity as Portfolio Grows
Having grown its portfolio by 50 percent since its $650 million IPO last December, ESR Kendall Square REIT, South Korea’s first publicly listed logistics trust, has sold 100 percent of a $400 million follow-on equity offering.
The fresh capital raise… Read More>>
US Data Centre Firm EdgeConneX Buys Stake in Chayora’s Mainland Platform
EdgeConneX, a US data centre firm backed by Swedish fund manager EQT, has taken a stake in Hong Kong-based developer Chayora, with the partners aiming to expand Chayora’s digital infrastructure platform across key markets in mainland China.
Chayora’s existing hyperscale,… Read More>>
Kaisa Confirms Default on Offshore Notes, Plans Restructuring of $11.8B in Debt
Embattled developer Kaisa Group Holdings on Monday acknowledged its failure to make payments on three sets of offshore senior notes and confirmed that it had engaged restructuring advisors to work with creditors on a plan for $11.8 billion in outstanding… Read More>>
Beike Lashes Out After Muddy Waters Says Revenues Overstated Up to 96%
Softbank- and Tencent-backed housing broker Beike has lashed out against accusations of “systemic fraud” levelled by Muddy Waters Research, a US investment firm famous for exposing fraud at since-bankrupt Chinese firms Luckin Coffee, Sino-Forest and NQ Mobile while shorting their… Read More>>
China’s CFLD Seeks Police Help to Locate $313M Invested With Gangster Firm
China Fortune Land Development’s disclosure on Thursday that it had entrusted $313 million in late 2018 to a wealth management firm controlled by a convicted swindler adds another chapter to the drama of one of the mainland’s most troubled real… Read More>>
Warburg Pincus-Backed D&J, New Ease Merge Into $11B Mainland Developer
Mainland builders D&J and New Ease, both backed by US private equity giant Warburg Pincus, have completed a “strategic merger” to form a combined real estate developer and fund manager with over $11 billion in assets under management.
The newly… Read More>>
KKR Launches Beijing Multi-Family JV With Funlive in Bet on New Airport District
US private equity giant KKR has formed a joint venture with Chinese apartment operator Funlive to develop and operate a 3,000-unit multi-family project in the southern suburbs of Beijing as mainland authorities continue to take steps to encourage rental residential… Read More>>
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