US bit barns lead the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that an American data centre provider has closed a deal to sell an 80 percent stake in a trio of hyperscale facilities to a Temasek-backed company and its real estate trust affiliate in a deal worth $1 billion.
In other news around the region, a Singapore’s biggest property group saw its profits drop in the third quarter, while home purchases in Hong Kong jump off the back of a relaxation of mortgage caps.
And in Japan, one of France’s largest insurers has boosted its residential real estate portfolio by acquiring a block of flats in Nagoya.
Digital Realty announced today it has closed the previously announced joint venture with Mapletree Investments and Mapletree Industrial Trust on three existing Turn-Key Flex® data centres located in Ashburn, Virginia.
The transaction values the three fully stabilised hyperscale facilities at approximately $1 billion. Read more>>
Asian real estate behemoth CapitaLand’s net profit for its third quarter dropped 7.8 percent to S$333.9 million from S$362.2 million a year ago mainly due to lower portfolio gains, the group said in a Singapore Exchange filing on Tuesday morning.
This was partially mitigated by a higher operating profit after tax and minority interest, which was mainly due to the maiden contribution from Ascendas-Singbridge, better contributions from China development projects and fee income from Vietnam. Read more>>
Home purchases in Hong Kong grew 16.1 percent month on month in October after two consecutive months of declines, lifted by the government’s relaxation of mortgage caps for first-time buyers as part of an economic stimulus package.
The registrations of about 4,000 units changed hands in October, an increase of 16.1 percent from September but 5.7 percent lower than the same month last year, the Land Registry said. Read more>>
Orix Corp has agreed to buy US commercial real estate lender Hunt Real Estate Capital, people familiar with the matter said, its latest acquisition in the field.
The Japanese finance and leasing firm is buying all Hunt Real Estate Capital shares from privately owned Hunt Companies Inc, said the people, who asked not to be identified since the deal hasn’t been announced. Read more>>
The real assets business of Axa Investment Managers (Axa IM) has completed the off-market acquisition of a residential tower block in Japan from a Japanese property firm for an undisclosed sum.
Comprising 230 rental units with private balconies, the 11-storeyed property is located in Nagoya at the centre of the Chukyo metropolitan district – the third largest in the country. Read more>>
Hong Kong’s wealthy residential enclaves, where some of the world’s most expensive homes are located, have also become safe havens in a tumbling property market as the city heads for a recession amid the worst political crisis in its history.
Average home prices in the neighbourhood inhabited by multibillionaires and tycoons have held steady, in some cases bucking the declining trend, compared with the working-class districts that had been the epicentres of the city’s five-month long anti-government protests, according to the data provided by real property agents and analysts. Read more>>
The Riverside Piazza near Clarke Quay is up for sale at a reserve price of $198 million, it was announced yesterday.
The complex comprises 40 apartments and 24 shops, with sizes ranging from 58 square metres to 333 square metres. The prime District 1 site spans 2,940 square metres and is zoned commercial and residential, with a plot ratio of 2.8 and a maximum gross floor area of 8,260 square metres. Read more>>
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