Student digs lead the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a Temasek-backed investment unit is reportedly among the potential bidders for a UK student accommodation group valued at £4 million ($5.3 million).
In other news around the region, Paris-based hotel operator has sold a five percent stake in a mainland China hotel group for $451 million, while a Singaporean REIT is borrowing A$205 million to fund its latest purchase down under.
Elsewhere, a co-living operator has raised $7 million in funding.
Mapletree is among five potential bidders circling IQ, a UK student accommodation company, in a deal that may be worth more than £4 billion ($5.25 billion), people briefed on the matter said.
The interest in London-based IQ comes as its owners at Goldman Sachs and Wellcome Trust, the medical research charity, are preparing an initial public offering of the business for which they joined forces to grow in early 2016. Read more>>
Paris-based Accor has entered into a definitive agreement to sell an approximately five percent stake in Shanghai-based hotel operator and franchisor Huazhu Group for $451 million.
Accor will keep an estimated 5 percent stake in Huazhu and Chaiman/CEO Sebastien Bazin will remain on Huazhu’s board of directors. Read more>>
SPH Reit has obtained A$205 million ($140 million) in secured loans from Westpac Banking Corp to finance its proposed acquisition of a half-stake in Westfield Marion Shopping Centre.
Inked in November, the A$670 million deal for the freehold mall in Adelaide, South Australia, will also be funded by a S$300 million ($220 million) issuance of perpetual securities in August plus S$164.5 million raised from a private placement last month. Read more>>
Housing Board resale prices have notched their biggest month-on-month increase this year after higher grants for first-time buyers kicked in, according to flash data from real estate portal SRX Property on Thursday.
Resale prices, which through most of 2019 have moved sluggishly within a -0.2 to +0.2 per cent range, rose 0.6 percent in November from October. Read more>>
Singapore-listed Keppel REIT has obtained an unsecured S$150 million ($110 million) green loan facility from Oversea-Chinese Banking Corp., its second such facility this year, to grow its green building portfolio.
In a disclosure to the Singapore Exchange, Keppel REIT’s manager said the green loan facility can be utilized to finance or refinance eligible green projects, among others. The loan was obtained by its subsidiary, Keppel REIT Fin Company (KRFC). Read more>>
Hong Kong multifamily office Raffles Family Office has launched in Singapore with the intention of investing in startups, incubating other family offices and leveraging strategic partnerships to grow its client base.
The firm, which manages more than $2 billion in assets, is looking to serve clients in the Asean region, though its existing clients in Greater China are also looking at diversifying. Read more>>
Zolostays, which offers affordable housing apartments to young professionals and students, has raised $7 million from venture debt firm Trifecta Capital, the co-living space provider said in a statement, on Thursday.
Nikhil Sikri, co-founder and chief executive officer at Zolostays, said the firm will use the funds to increase its capital expenditure investments, product innovation, and geographical expansion. Read more>>