62 Stradbroke Street in Heathwood, Brisbane
In today’s roundup of regional news headlines, SGX-listed Ascendas REIT disposes of three industrial assets Down Under, Kaisa boss Kwok Ying-Shing officially takes over at Hong Kong’s Sing Tao News, and South Korea’s Shinhan REITs is set to buy an Amazon warehouse in New Mexico.
Ascendas REIT Selling 3 Aussie Industrial Assets for A$125M
Singapore-listed Ascendas REIT has agreed to sell three industrial assets in Australia in a A$125 million ($96.2 million) deal.
The CapitaLand-managed trust sold 82 Noosa Street and 62 Stradbroke Street in Heathwood, Brisbane to Arrow Capital Partners for A$101.6 million and 1314 Ferntree Gully Road in Melbourne to a Chinese group for A$23.5 million. Read more>>
Kaisa Boss Kwok Ying-Shing Takes Helm at Hong Kong’s Sing Tao News
Sing Tao News Corporation’s shares climbed by 3.37 percent to HK$0.92 ($0.12) in the morning after the company officially changed hands to new chairman Kwok Ying-shing.
The group announced that on Thursday, Charles Ho Tsu-kwok and Kwok Hiu-ting entered into the supplemental agreement to adjust the number of the sale shares from 246,552,045 to 250,000,000 and the total consideration from HK$369.83 million to HK$375 million with a price per share of HK$1.50. Read more>>
Blackstone to Acquire IDG From China Oceanwide for $1.3B
Blackstone has agreed to acquire International Data Group from Oriental Rainbow, a subsidiary of China Oceanwide Holdings Group. The deal, which comes with an enterprise value of $1.3 billion, represents an indirect bet on the future of the tech data industry.
Founded in 1964 and based in Boston, IDG provides market and data intelligence and research for the tech sector. Blackstone’s backing will allow IDG to take on more strategic tech acquisitions. The company acquired IT benchmarking and sourcing specialist Metri in May; it purchased Triblio, a provider of account-based marketing software, in June 2020. Read more>>
Australian Unity Rejects GIC-Backed $2B Buyout Bid for Healthcare Fund
Australian Unity has rejected yet another sweetened takeover bid for its unlisted healthcare fund from Canada’s NorthWest Healthcare Properties REIT, according to an announcement by Australia’s first member-owned mutual company.
Australian Unity Funds Management Limited (AUFM) has told its investors that NorthWest’s third unsolicited proposal to acquire 100 percent of the units in Australian Unity Healthcare Property Trust (AUHPT) “undervalues AUHPT and is not in the best interest of AUHPT unitholders”. Read more>>
Korea’s Shinhan REITs Poised to Buy Amazon Logistics Centre in US
South Korea’s Shinhan REITs Management Co is set to invest $93 million to buy a pre-completed fulfilment centre in New Mexico, under a long-term agreement with online retail giant Amazon.
The investment, set to become Shinhan REITs’ first overseas deal, is aimed at beefing up the REIT manager’s portfolio before it seeks a domestic stock market listing next year. Read more>>
Evergrande Pledges to Reduce Debt to Under HK$728B
China Evergrande chairman Hui Ka-yan has pledged to reduce the company’s debt to under HK$727.94 billion ($93.8 billion) by the end of this month, as investors dumped their shares and bonds on fears of a regulatory investigation.
The property tycoon said yesterday that the company, whose leverage ratios are still much higher than Beijing’s minimum requirement, would meet at least one of the “three red lines” by the end of June. Read more>>
Parking Spot on Hong Kong’s Peak Sells for Record $1.3M
A car parking bay at the exclusive Mount Nicholson development on The Peak sold for more than HK$10 million ($1.3 million), smashing a world record set in 2019, according to a source familiar with the sale.
The developers Wharf Holdings and Nan Fung Group sold 29 parking spaces in phase two and three of the luxury project through a closed tender to homeowners last month, with one of the spots selling for over HK$10 million, the source said. Read more>>
Elite Commercial REIT Unit Applies for TISE Listing
SGX-listed Elite Commercial REIT has applied for its wholly owned unit, Elite UK Commercial Holdings Limited (ECHL), to be listed on The International Stock Exchange (TISE) as a UK REIT by the third quarter.
Post-listing, Elite Commercial REIT will continue to hold 100 percent of the shares in ECHL, the manager said in a regulatory filing on Friday. Read more>>
Scape Snaps Up Melbourne Site for A$32.5M
Scape has quietly snapped up a prominent Melbourne CBD site with plans for a student accommodation tower.
The former service station at 23-29 Victoria Street, at the southwest corner of McKenzie, cost A$32.5 million ($25 million), or $36,353 per square metre. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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