Dalian Wanda Group has agreed to sell a 49 percent stake in an investment division which holds a stake in its Wanda Film unit for RMB 2.27 billion ($320 million), with reports indicating that the cash raised will go towards… Read More>>
GIC, Warburg, Temasek Meet With China Regulators and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Chinese regulators host global fund managers in a bid to boost market confidence amid a sputtering economy, and Singapore’s GIC agrees to buy a logistics facility in Japan’s Nagoya area. Also making the… Read More>>
Blackstone Q2 Earnings Tumble 39% as Assets Reach $1T Milestone
Blackstone on Thursday announced a 39 percent year-on-year drop in distributable earnings to $1.2 billion in the second quarter, but the profit skid was tempered by a 6 percent rise in the private equity giant’s assets under management to an… Read More>>
Australia’s Ovolo Hospitality Rolls Out Asset Manager TriO Capital to Drive Expansion
Australian hospitality group Ovolo has launched a dedicated investment and asset management arm dubbed TriO Capital to drive expansion efforts, with an initial focus on Asia Pacific.
Named after the three O’s in Ovolo, TriO is led by managing director… Read More>>
Wanda Commercial Races to Raise Cash for Bond and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Dalian Wanda’s property management unit reportedly eyes the sale of an unidentified asset to raise cash to pay a maturing offshore bond, with rating agencies warning of an imminent default. Also making the… Read More>>
Keppel Funds Buy Seoul Office Tower, Boosting Korean Portfolio to $2B
Two private funds of Singapore’s Keppel Corp have acquired an office tower in the Seoul CBD for an undisclosed amount, increasing the conglomerate’s South Korean assets under management to nearly KRW 2.6 trillion ($2 billion).
The Bank of Korea’s Sogong… Read More>>
R&F Co-Chairman Dodges Jail, Will Pay Fines for Bribing San Francisco Official
Guangzhou R&F Properties co-chairman Zhang Li has avoided jail time and will not see criminal charges after admitting to bribing a local official in order to secure approvals for a San Francisco mixed-use project.
Under the deal reached with US… Read More>>
APAC Hotel Deal Volume Down 51% in First Half on Economic Woes, Costlier Financing
Hotel investment volume in Asia Pacific tumbled 51 percent year-on-year to $3.13 billion in the first half of 2023 as macroeconomic challenges and the rising cost of debt stubbed out dealmaking in the hospitality segment, according to JLL.
Japan bucked… Read More>>
Manulife US REIT Hit With Analyst Downgrades and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, SGX-listed Manulife US REIT receives analyst downgrades after reporting a worse-than-expected drop in portfolio valuation, and Korean investors reel from bad bets in global office markets. Also making the list are state-backed Chinese… Read More>>
SC Capital JV With Goldman, ADIA Buys Japan Hotel Portfolio From Daiwa House for $900M
A consortium formed by Singapore’s SC Capital Partners with Goldman Sachs Asset Management and the Abu Dhabi Investment Authority has acquired a portfolio of 27 resort hotels in Japan from property giant Daiwa House Industry for $900 million.
The hotels… Read More>>
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