Great Eagle subsidiary Pacific Eagle has agreed to buy the historic Dexter Horton building
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Great Eagle the Latest HK Developer to Acquire Seattle Assets
Seattle’s historic Dexter Horton Building is under contract to be sold to a Hong Kong investment firm, the third purchase of a downtown Seattle tower by such a buyer this year.
Pacific Eagle, the San Francisco subsidiary of Hong Kong-based Great Eagle Holdings, has a deal to purchase the 15-story, terra cotta-clad building at Second Avenue and Cherry Street from Portland real-estate firm Gerding Edlen, say industry sources familiar with the matter. The deal is expected to close later this month. Read more>>
Developer Spends $1.26B to Build Fake Venice in Dalian
China has spent ¥8bn (£800m, $1.26bm) building its own version of Venice – complete with canals and gondolas. The new development in the northeast Chinese port city of Dalian is attracting thousands of tourists, many of them queuing for a ride in a gondola.
“This is a good thing. This is an opportunity for people who could not go abroad to enjoy the same scenery as that in foreign countries, and expand their visions to know more about foreign customs and practices. This is really good,” says Zhang, a resident of Dalian. Read more>>
Beijing Hualian Group Retail REIT to List on SGX This Year
Singapore should see its first listing of a REIT on the Singapore Exchange (SGX) mainboard in 2015 just before the year comes to a close.
Beijing Hualian Group (BHG) has launched its pre-marketing for an initial public offering (IPO) that would also be the island city’s first real estate investment trust (REIT) listing this year, according to a report by Finance Asia. Read more>>
Wuhan Developer Proposes $135M Project Near Seattle
A Chinese firm is working on a $135 million mixed-use project near the University of Washington Tacoma campus.
The city of Tacoma signed a development agreement in August with an entity related to Wuhan Boshengshiji Real Estate Development for a 6.4-acre site bounded by South 21st and 23rd streets, and Jefferson and Tacoma avenues. Read more>>
Future Land to Issue US$250 Mil Senior Note
Future Land Development announced on Friday a proposed US$250 million senior notes to raise capital to repay debt.
The mainland developer in the Yangtze River Delta, focusing primarily on the development of residential properties and mixed-use complex projects, said the note, which will mature on November 12, 2017, will bear an interest rate of 6.25 per cent per annum. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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