CapitaLand Launches $297M India Logistics Fund and More Asia Real Estate Headlines

In today’s roundup of regional news headlines, Singapore’s CapitaLand launches its second logistics private fund in India, Australian regulators approve the sale of a stake in a Sydney office tower to China’s sovereign wealth fund, and Canadian fund manager Ivanhoe Cambridge invests in Hyderabad life science office-labs.

CapitaLand Launches $297M India Logistics Fund

CapitaLand has launched a second logistics private fund in India worth S$400 million ($297 million) for expansion in the country’s logistics sector, the Singaporean property giant said Wednesday.

CapitaLand India Logistics Fund II will invest in the development of key warehousing and manufacturing hubs in six major cities — Ahmedabad, Bangalore, Chennai, Mumbai, the National Capital Region and Pune — and in emerging markets like Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow. Read more>>

Canberra Approves CIC Investment in Sydney’s Grosvenor Place 

Canberra has approved the acquisition of an additional stake in Grosvenor Place, an iconic Sydney office building, by China’s sovereign wealth fund.

China Investment Corporation agreed to buy the stake for A$925 million ($696 million) last November but had to wait for approval from Australia’s Foreign Investment Review Board. The approval means CIC will own 75 percent of the 44-storey building. Read more>>

Ivanhoe Cambridge Invests in India Bio-Med Portfolio

Ivanhoe Cambridge is investing in a 850,000 square foot (78,968 square metre) life science R&D office-labs portfolio in Genome Valley, Hyderabad. The portfolio will be acquired alongside Lighthouse Canton, an asset and wealth management firm.

MN Park is India’s largest privately owned portfolio of leased life sciences R&D office-labs. It offers fully fitted lab spaces, incubation and R&D facilities, storage spaces, office spaces and large recreational spaces for global and domestic tenants. Read more>>

Beike to Acquire Home Renovation Firm for Up to $1.2B

New York-listed Beike Zhaofang, China’s largest online real estate listings and transactions platform, said it was acquiring a home renovations company for up to RMB 8 billion ($1.2 billion), its first big investment since the death of founder Zuo Hui in May.

The company, which is also known as KE Holdings, had agreed to acquire 100 percent of equity in Shengdu Home Renovation from its existing shareholders for a total consideration capped at RMB 8 billion consisting of cash and equity, subject to regulatory approval, the company said Monday. Beike said it expected to close the transaction in the first half of 2022. Read more>>

STT Telemedia Launches Singapore Hyperscale Data Centre

ST Telemedia Global Data Centres (STT GDC) on Tuesday announced that it has officially launched its hyperscale data centre with an IT load capacity of up to 40 megawatts at Loyang Close.

The six-storey facility, STT Loyang, is STT GDC’s largest facility in Singapore to date and has a gross floor area of more than 27,000 square metres (290,626 square feet) and a net lettable area of over 10,700 square metres. Read more>>

CPPIB Backs $473M Lendlease Project in Milan

Lendlease has hooked up with Canadian pension fund behemoth CPPIB for a €400 million ($472.8 million) joint venture to develop one of the Australian firm’s projects in Italy.

The pair’s new REIT marks the third time CPPIB has pumped capital into a Lendlease venture, following partnerships at Barangaroo in Sydney and Elephant Park in London. Read more>>

Allgreen and Kerry Secure $639M Green Loan for NE Singapore Project

Two 70:30 joint ventures between Allgreen Properties and Kerry Properties — Phoenix Residential and Phoenix Commercial — have obtained an S$861.8 million ($639 million) green loan from DBS, Maybank and OCBC to finance a mixed-use development project in Pasir Ris.

This marks the first green loan for both Allgreen and Kerry, the developers said in a joint press statement with the lenders on Wednesday. It was raised under a new green loan framework set up by Allgreen with support from OCBC. Read more>>

Hongkong Land Prices $500M in Green Bonds Due in 2031 at 2.25%

HongkongLand on Wednesday said its inaugural 10-year $500 million green bond offering was about three times subscribed.

The dollar-denominated senior unsecured notes, which will mature on 15 July 2021, carry a coupon of 2.25 percent and a re-offer yield of 2.314 percent, according to a term sheet seen by the Business Times. Read more>>

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