Goodwin Gaw is said to be taking on Blackstone and KKR in bidding for a $2b Link REIT portfolio
Leading the news today, Hong Kong’s own Gaw Capital is said to be slugging it out with some of the world’s biggest investors as Link REIT puts a $2 billion set of assets on the market, while up on the mainland, R&F Properties hits a snag in its push for a Shanghai listing. Further south, Singapore’s collective sale fever continues to burn, and there’s much more if you just read on.
Blackstone, Gaw, KKR Said Shortlisted for Link REIT Portfolio
Blackstone, KKR and some Chinese investors are among potential bidders shortlisted by Link Real Estate Investment Trust (0823.HK) to buy some of its Hong Kong retail assets valued at about $2 billion, three sources said.
Gaw Capital Partners, a Hong Kong-based private equity real estate firm focused on Greater China and Asia, is also on the shortlist for Link REIT’s shopping centers in the Asian financial hub, the people who had knowledge of the matter said. Read more>>
R&F Mainland Listing Frozen
Hong Kong-listed developer Guangzhou R&F Properties Co. Ltd. has frozen its application for an A-share initial public offering on the Shanghai Stock Exchange amid scrutiny of its financial status.
The application is slated to be reactivated following the appointment of a new representative for one of its fundraising project sponsors, according to an R&F filing with the Hong Kong Stock Exchange. A date for the appointment was not announced. Read more>>
China Home Prices Rise in Just 44 Cities in September
China home prices rose in the fewest cities since January 2016, adding to signs of a property slowdown as curbs on buyers bite.
New-home prices, excluding government-subsidized housing, in September rose in 44 of 70 cities tracked by the government, compared with 46 in August, the National Bureau of Statistics said on Monday. Prices fell in 18 cities from the previous month and were unchanged in eight. Read more>>
Singapore’s Dunearn Court Sells for S$36.3m, Mayfair Gardens Up for Sale
Dunearn Court in prime District 11 has been sold for $36.3 million, while Mayfair Gardens has been put up for collective sale. Each owner at the 12-unit Dunearn Court will get about $2.91 million to $3.12 million, which works out to about $2,004 to $2,140 per square foot (psf).
The 19,203 sq ft freehold site, which was bought by Roxy-Pacific Holdings unit RH Central, has a gross plot ratio of 1.4. Read more>>
Singapore Retail Rents Slide as Ecommerce Moves In
Singapore’s malls are one click away from irrelevance, though the investment trusts that own them are carrying on as if nothing has changed.The first hint of trouble showed up in January when department store John Little shut down after a 174-year run.
Then, in July, Amazon.com Inc. introduced its two-hour Prime Now delivery service, choosing the city-state of 5.6 million people as the testing ground to fine-tune its Southeast Asia ambitions. Read more>>
Singapore’s Rockworth Capital Spins Off Aussie Holdings
One of Singapore’s most active buyers of Australian commercial property, Rockworth Capital Partners, has spun off its local holdings into a new investment management company, Firmus Capital, that has ambitions of buying more local real estate.
The new firm, headed by Rockworth co-founder Lim Su Kiat, will start with an initial portfolio of Australian commercial assets transferred from the original company. Read more>>
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