Stephen Schwarzman’s team has had some luck with India’s tech parks lately and Mingtiandi’s headline roundup kicks off with news that there may be room for one more suburban office development in the investment manager’s portfolio.
Asian investments in European sheds also get some ink today with the news that a Singapore-listed trust has raised $187 million through a private placement to fund the acquisition of 12 logistics facilities in Germany and Australia.
Elsewhere, a Hong Kong developer has posted a 16 percent core profit for the first half of the year, while Mitsubishi Estate is behind a new co-working concept in Japan.
Representatives of the family of VG Siddhartha and US buyout fund Blackstone have agreed to resume talks for the potential sale of a 90-acre (364,217 square metres) technology park owned by the Cafe Coffee Day group at an estimated value of INR 3,000 crore ($436 million), according to people directly aware of the development.
If successful the sale will help alleviate the debt burden left behind by the coffee tycoon, who jumped to his death on the evening of 29 July. Read more>>
Frasers Logistics & Industrial Trust (FLT) has raised S$258.1 million ($187 million) through a private placement of 220 million units at an issue price of S$1.173 per unit.
The private placement announced late Tuesday drew strong demand from new and existing investors which led to the book being approximately 3.2 times subscribed, FLT said. Read more>>
CapitaLand Retail China Trust, which is buying three shopping centres from CapitaLand, launched on Thursday the equity fundraising exercise for the purchase.
The manager plans to raise gross proceeds of between S$273.4 million ($199 million) and S$279.4 million, in a private placement and a pro rata and non-renounceable preferential offering for unitholders. Read more>>
Victor Li Tzar-kuoi’s CK Asset Holdings announced a 16.4 per cent increase in core profit for the six months to June, driven by strong property sales in Hong Kong that it locked in before the housing market turned sour.
Underlying interim profit, excluding investment property revaluation and property disposal, came to HK$14.05 billion ($1.8 billion), up from HK$12.07 billion in 2018. Read more>>
CVC Capital Partners is set to buy a controlling stake in South Korea’s second largest accommodation booking app operator and in separate talks with minority shareholders to raise its ownership in the start-up firm to about 80 percent, in a deal worth more than KRW 340 billion ($300 million).
The British private equity firm has reached a preliminary agreement to acquire 52 percent of With Innovation Corp, which runs the hotel reservation platform, Good Choice, from its ex-chief executive officer Myeong-seob Sim and affiliated companies, according to investment banking sources. Read more>>
Shanghai’s new home sales market continued to lose its momentum in July amid a decrease in new supply, latest market data showed.
Some 616,000 square meters of new residential properties, excluding government-funded affordable housing, were sold in the city last month, a drop of 9.8 percent from June, according to a regular monthly report released on Thursday by Shanghai Centaline Property Consultants. Read more>>
Call it co-working, Japan style. People on the go will soon be able to find a quiet place to sit down and tap away on a laptop, thanks to phonebooth-sized offices that will be popping up at train stations, airports and skyscraper lobbies.
An enclosure of just 1.2 square metres (13 square feet), the soundproof Telecube will have a seat, desk and power outlets. Mitsubishi Estate Co, together with office furniture maker Okamura Corp. video-conferencing software vendor V-Cube Inc, and Telecube Inc plan to install 1,000 of the boxes by 2023. Read more>>
A house at the end of a cul-de-sac on a quiet street on Singapore’s Astrid Hill is on the market with a price tag of S$52 million ($38 million), with several agents specialising in landed property marketing it.
The owner of the house is Shi Ka Yee, who is in her 70s and has been dubbed the “Ferrari lady” by the press for her misdemeanours while driving her red Ferrari across town. The single-storey Good Class Bungalow (GCB) sits on a 26,983 square feet, elevated freehold plot. The asking price translates to $1,927 per square foot. Read more>>