Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Join the Mingtiandi Proptech Forum 2021
      • Asia Proptech 2021: COVID-19 Accelerates a Trend
      • Panel Talk: Tech Adoption in Logistics Real Estate
    • Promote Your Brand with the Mingtiandi Proptech Forum 2021
    • 2021 Mingtiandi Event Calendar
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

Singapore-Listed US REIT Adds $143M for Acquisitions and More Asia Real Estate Headlines

2019/09/20 by Michael Cole Leave a Comment

400 Capitol - Exterior

Manulife US REIT is using the new funds for its acquisition of 400 Capitol Mall in Sacramento

Singapore’s asset hungry investors lead today’s digest of real estate news from around the region, as a REIT set up to invest in US real estate assets completes $143 million in equity fund raising to fuel its acquisitions.

The collapse of WeWork’s IPO plans continue to prove newsworthy, with reports from the UK that a planned acquisition by mainland investor Du Shuanghua’s Bright Ruby Resources may have sunk alongside the co-working giants listing dreams.

And in the latest tale of US projects by mainland investors, China Vanke has sold off its stake in a controversial Manhattan development while a joint venture between NYC developer and Shanghai’s municipal investment fund tops out a Central Park project in the midst of New York’s luxury glut. All these stories and more await you below.

Manulife US REIT Raises $143M From Unit Sale

Manulife US Reit’s private placement and preferential offering has netted gross proceeds of about US$142.7 million (S$196.8 million) after both priced in at the top end of their issue price range, its manager said on Friday (20 Sept).

The pure-play US office Reit had planned to raise US$142.1 million from the equity fundraising for its latest acquisition. Read more>>

WeWork IPO Fiasco May Have Scuppered £850M London Acquisition

Talks have stalled on the sale of WeWork Waterloo, which the company describes as the largest co-working facility in the world, according to other people with knowledge of the negotiations.

Singapore-based commodity trader Bright Ruby Resources Pte Ltd had agreed last month to buy it and an adjoining property leased to Royal Dutch Shell plc for about £850 million. It’s not clear what impact WeWork’s roller-coaster IPO has had on Bright Ruby’s appetite for the deal, the people said. Read more>>

China Vanke Sells Off Controversial NYC Acquisition

The saga of Rivington House continues this week with news of its sale. Indeed, three years after Slate Property Group, China Vanke Co., and Adam America Real Estate together purchased the property, the ownership team is cashing out.

After acquiring the former nursing home for $116 million in 2016, the partners have parted with the Manhattan asset for $159.6 million, according to local news reports, The identity of the buyer is said to be shielded by a network of shell companies. Read more>>

Shanghai Govt-Backed Central Park Tower Tops Out in Manhattan

Extell Development Company’s Central Park Tower on West 57th Street’s “Billionaires’ Row” has topped out. At 1,550 feet in height, the condominium project reportedly will be the tallest residential building in the world.

Extell is co-developing Central Park Tower with SMI USA, the U.S. subsidiary of Shanghai Municipal Investment. Lendlease served as construction manager for Central Park Tower. Read more>>

Sun Hung Kai Sells Out Kowloon Homes at Discounts Up to 25%

Homebuyers took advantage of steep discounts and snapped up 351 of the 352 flats Sun Hung Kai Properties, Hong Kong’s biggest developer, had on sale at its The Cullinan West III project on Thursday. Developers have been rushing to offload flats before the introduction of a vacancy tax, now expected as soon as January.

The developer priced the latest batch of flats at the project at an average of HK$23,172 per square foot, up to 25 per cent below the prevailing market rate in the area. The development sits atop the Nam Cheong MTR Station, making it more attractive to buyers who have become more selective in their purchases, agents said. It is also near the protest-hit district of Sham Shui Po. Read more>>

Airbnb Plans 2020 IPO

Uber and Lyft are each trading well below their IPO prices. Slack’s stock took a beating after its first earnings report as a public company earlier this month. And WeWork is struggling just to make it across the IPO finish line.

And yet Airbnb, one of the most highly valued tech startups around, wants the world to know it still intends to go public despite all the red flags from its peers — just not this year. Read more>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Related Stories

  • WeWork Shelves Plans for New HK Locations and More Asia Real Estate HeadlinesWeWork Shelves Plans for New HK Locations and More Asia Real Estate Headlines
  • Blackstone Plans $599M India Office REIT IPO and More Asia Real Estate HeadlinesBlackstone Plans $599M India Office REIT IPO and More Asia Real Estate Headlines
  • Tycoon Li Ka-shing Defends HK Security Law and More Asia Real Estate HeadlinesTycoon Li Ka-shing Defends HK Security Law and More Asia Real Estate Headlines
  • Asia Real Estate People in the News 2020-05-25Asia Real Estate People in the News 2020-05-25

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Airbnb, Bright Ruby, China Vanke, Manulife US REIT, SMI, Sun Hung Kai Properties, WeWork

Proptech Registration Jumbo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Yardi Commercial Cafe

Get Mingtiandi Delivered

Proptech Registration Column

Latest Stories

Ben Cha Grosvenor

UK Developer Grosvenor Appoints Kozo Hiratani as Japan President

JLL Ken Sakuramoto

JLL Chooses Outsiders to Fill Japan, India Leadership Posts 

Seoul Office Deals Reached Record $12.1B in 2020 and More Asia Real Estate Headlines

vrco neoxcraft

Logistics Real Estate Experts Join MTD TV Proptech Forum This Week

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

COVID-19 Uncertainty Creates New Priorities for Real Estate Investors Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Singapore’s CDL Warns of Loss After China Developer Investment Swells to $1.4BSingapore’s CDL Warns of Loss After China Developer Investment Swells to $1.4B

Logos Launches $371M Malaysian Project in Southeast Asia ExpansionLogos Launches $371M Malaysian Project in Southeast Asia Expansion

Hines Hires New Asia Investment Chief as Fund Management Business GrowsHines Hires New Asia Investment Chief as Fund Management Business Grows

Blackstone Closes on $1.1B China Logistics Deal and More Asia Real…Blackstone Closes on $1.1B China Logistics Deal and More Asia Real Estate Headlines


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • Join the Mingtiandi Proptech Forum 2021
      • Asia Proptech 2021: COVID-19 Accelerates a Trend
      • Panel Talk: Tech Adoption in Logistics Real Estate
    • Promote Your Brand with the Mingtiandi Proptech Forum 2021
    • 2021 Mingtiandi Event Calendar
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy. AcceptRefuse