Henry Fernandez of MSCI has officially added RCA to his stable
In today’s roundup of regional news headlines, US finance firm MSCI completes its $950 million acquisition of data provider Real Capital Analytics, local investors in China take strategic stakes in failed conglomerate HNA’s airline and airport units, and debt-saddled Evergrande’s struggles to avoid default raise the risk of contagion for other developers.
MSCI Completes Acquisition of Real Capital Analytics
MSCI Inc has completed its previously announced acquisition of global real estate data provider Real Capital Analytics.
“This acquisition comes at a time when the commercial real estate sector is seeing substantial transformation as investor appetite for the asset class continues to grow,” said MSCI chairman and CEO Henry Fernandez. “RCA’s excellence in the space will allow us to help investors better manage existing risks and navigate new ones as they emerge.” Read more>>
Local Investors to Take Strategic Stakes in HNA Airline, Airport Businesses
The administrators of HNA Group’s debt restructuring programme have decided on strategic investors for the Chinese conglomerate’s airline and airport businesses.
Liaoning Fangda Group Industrial will be the strategic investor for HNA’s flagship airline business, while Hainan Development Holdings will invest in its airport business, according to exchange filings on Sunday by Hainan Airlines Holding and HNA Infrastructure Investment Group. Read more>>
China Evergrande Debt Woes Raise Financing Pressure on Peers
China Evergrande Group’s struggles to quickly sell off assets and avert defaulting on its RMB 1.97 trillion ($305.3 billion) in liabilities is raising the risk of contagion for other privately owned developers, fund managers and analysts say.
Worries over the country’s No.2 property developer’s ability to make bank loan interest and wealth management product payments have led to a worsening sell-off in its bonds and shares in the past week. Read more>>
Gemdale USA Unloads 130 Los Angeles-Area Homes for $62M
Gemdale USA has sold The Madison at Town Center, a 130-unit apartment complex in the city of Santa Clarita in Los Angeles County, for $62 million, or $476,923 per unit. Fairfield Residential acquired the property, according to Institutional Property Advisors, a division of Marcus & Millichap.
Multi-family assets in neighborhoods outside of the city of Los Angeles have seen an increase in suburban migration from metro areas, particularly as more companies shift to more remote work. Read more>>
Singapore Condo Resale Volumes, Prices Rise
Singapore resale condominium prices and volumes continued to rise in August despite it being the Hungry Ghost month, when sales typically slow down.
Flash figures from SRX Property on Tuesday noted a 0.5 percent rise in overall resale prices from July levels, and an increase of 7.9 percent year-on-year. Read more>>
Singapore Industrial Building on the Market for $16.4M
A part single, part four-storey industrial development comprising both warehouse and ancillary office space has been put up for sale via private treaty at an indicative price of S$22 million ($16.4 million), exclusive marketing agent CBRE announced Monday.
Located at 8B Buroh Street within a key logistics cluster of the Jurong Industrial Estate, the development is near PSA terminals, Jurong Port, International Business Park, Jurong Island and Tuas Checkpoint. Read more>>
India Retail Sales Reach 88% of Pre-Pandemic Levels
India’s retail sales in August reached 88 percent of pre-pandemic levels, buoyed by early festive season demand, the Retailers Association of India said in the 19th edition of the Retail Business Survey.
Peak festive season sales combined with a wider inoculation drive are likely to drive footfall for retailers in the coming months. Some retailers are hoping to cross pre-pandemic sales numbers, RAI said in the survey conducted among several large and mid-sized retailers across categories. Read more>>
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