KTB acquired the PassPort building at Brussels airport in 2018
In today’s roundup of regional news headlines, South Korea’s KTB closes on capital commitments for a fund investing in mortgage loans for US multi-family housing, Softbank-banked Oyo Hotels reportedly contemplates an India IPO, and Cushman & Wakefield is in talks to form a partnership with flexible office operator WeWork.
Korea’s KTB Raises $478M for US Real Estate Debt
KTB Asset Management has closed KRW 550 billion ($478.8 million) in commitments to its Bridge Debt Strategies Fund IV, a pooled investment vehicle mainly targeting securitised multi-family housing loans in the US, the company said Tuesday.
The Seoul-based asset manager has attracted capital commitments from eight South Korean institutional investors, it said, targeting annual returns of up to 11 percent from its fund-of-funds strategy. Read more>>
Softbank’s Oyo Hotels Aims for India IPO in 2021
Oyo Hotels and Homes will soon join the list of startups launching an initial public offering in India.
Internally, the hospitality company has set a timeline of September for filing its IPO prospectus and wants to be a public company before the calendar year ends, people aware of the development said. Read more>>
WeWork and Cushman & Wakefield Forming $150M Partnership
Shared office space giant WeWork and Cushman & Wakefield, one of the world’s largest commercial real estate firms, are negotiating to form a $150 million partnership to navigate the new world of remote working and flexible workplaces.
As part of the alliance, Cushman would make a $150 million investment in the planned merger between WeWork and a public company later this year. That merger, expected to value WeWork at $9 billion including debt, will cap off the firm’s effort to reconstruct its balance sheet after the high-profile collapse of its planned IPO in late 2019. Read more>>
Singapore Condo Resale Volumes Rebound 22.5% in July
Singapore condominium resale volume rebounded in July after falling for two straight months. Overall prices, meanwhile, continued to climb, according to flash figures from SRX Property on Tuesday.
Gains in overall resale volumes and prices were driven by demand for condos in the suburban or outside-of-central region, which contributed to more than half (58 percent) of volume while prices were up 1.6 percent, the highest increase among the different regions. Read more>>
Dasin Retail Trust Distributions Rise 55.2% in H1 2021
Dasin Retail Trust on Monday reported a 55.2 percent increase in distribution per unit to 2.98 Singapore cents (now $0.02) for its first half ended June 2021 from 1.92 Singapore cents a year ago.
This included a “distribution waiver” through which major unitholders have waived a portion of their entitlement to distributions from the retail property trust. Read more>>
Shenzhen Home Sales Plunge 85% After Clamp-Down
The city of Shenzhen, one of China’s hottest residential real estate markets, saw an 84.5 percent plunge in resale home transaction volume in July versus a year earlier, a state-backed newspaper reported on Monday, as curbs to slow price increases kicked in.
Shenzhen saw a sharp rise in home prices last year as loose residency requirements aimed at attracting skilled workers and tight supplies prompted frantic buying. Read more>>
Tencent Rolls Out Thailand Data Centre
Tencent Cloud, the cloud business of Chinese internet giant Tencent, has launched its second internet data centre in Thailand to cash in on flourishing demand in cloud computing services.
The Bangkok launch coincides with the unveiling of another three internet data centres in Frankfurt, Hong Kong and Tokyo. Tencent Cloud operates in 27 regions and 66 availability zones worldwide. Read more>>
Lendlease Global REIT Boosts Distributions 33% as Retail Recovers
Lendlease Global Commercial REIT on Tuesday posted a distribution per unit of 2.34 Singapore cents for the half-year ended 30 June, up 32.8 percent from 1.76 Singapore cents a year ago, as retail activity recovered.
Gross revenue rose 8.5 percent to S$37 million (now $27.2 million) from S$34.1 million a year ago. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Leave a Reply