BlackRock chairman and CEO Larry Fink
In today’s regional real estate news roundup, BlackRock moves to enforce a personal guarantee after a $27.5 million China private credit default, CapitaLand Ascendas REIT completes a Japan data centre stake acquisition, and DCI Indonesia secures a nearly $1 billion credit facility for capacity expansion.
BlackRock Pursues MetCold Founder After China Logistics Default
BlackRock is attempting to recover funds after a unit of Chinese cold-chain logistics provider Metcold defaulted on a private credit loan in early April, according to people familiar with the matter.
The US asset manager is seeking to enforce a personal guarantee from Metcold founder and CEO Henry Ha after the company failed to repay $27.5 million in principal on 1 April under a $52.5 million facility from BlackRock’s Asia Pacific Private Credit Opportunities Fund II. Read more>>
CapitaLand Ascendas REIT Completes 49% Japan Data Centre Stake Acquisition
CapitaLand Ascendas REIT has completed its acquisition of a 49 percent stake in a data centre asset in Japan, the trust’s manager said Thursday. The deal formed part of a broader acquisition package announced in March.
The same programme also covered the purchase of a full interest in a Singapore logistics asset and a 50 percent stake in a Singapore business space asset, alongside a private placement and preferential offering to fund the transactions. Read more>>
Huationg Global Plans $46M Singapore Dormitory Development
Singapore contractor Huationg Global has agreed to acquire a 4,385 square metre (47,200 square foot) leasehold land parcel in Singapore to develop a purpose-built dormitory. The land, zoned Business 2 under the Master Plan, carries a 45-year lease term.
Huationg’s wholly owned subsidiary One Changi signed the sale and purchase agreement with an unrelated vendor, with completion expected by 30 June. The estimated gross development cost for the acquisition and construction totals S$58 million ($45.7 million), the company said. Read more>>
Sim Lian Sole Bidder for $358M Holland Plain Condo Site
Sim Lian Group submitted the only bid for a prime residential government land sale site at Holland Plain in Singapore when the tender closed Thursday, offering S$454 million ($357.8 million) at a land rate of S$1,491 per square foot of potential built area.
The one-bid result fell below analyst expectations of up to six bidders, though the price landed within the S$1,400 to S$1,500 range forecasters predicted. Combined with an adjacent Holland Link parcel the developer previously won, the two sites could yield 510 homes. Read more>>
DCI Indonesia Secures $979M BCA Credit Facility for Data Centre Expansion
Data centre operator DCI Indonesia has secured a credit facility of IDR 17 trillion ($978.5 million) from Bank Central Asia to fund the construction and completion of data centre facilities across the country, according to an exchange filing.
The company pledged land, buildings, machinery and equipment as security for the loan, and the facility is expected to begin operations in the first half of 2026. Read more>>
Australian Unity Office Fund Winds Up With $29M Brisbane Sale
Australian Unity Office Fund’s board confirmed that unitholders have voted to approve a wind-up proposal that includes the A$40 million ($28.9 million) sale of 150 Charlotte Street in Brisbane to a fund managed by Dexus Group. Foreign investment approval for the deal was received last month.
Following the asset sale and delisting from the ASX, the fund expects to return between A$0.37 and A$0.38 per unit to investors through a compulsory redemption. Directors unanimously recommended the proposal as being in the best interests of unitholders, according to the announcement. Read more>>
Frasers Property Posts 38% Profit Drop on Thailand Impairment
Frasers Property posted a 37.8 percent decline in net profit to S$88.4 million ($69.7 million) for the six months to the end of March, compared with S$142.2 million in the prior year period. A S$38.2 million impairment on a Thailand investment weighed on results, the company said.
Revenue fell 5.2 percent to S$1.51 billion. Excluding a one-off tax provision reversal in the prior year, attributable profit would have risen 77 percent year-on-year, the company said. Read more>>
QIC Sells Chatswood Gym for $22M at 5.57% Yield
QIC has settled the sale of a gym property at 350 Eastern Valley Way in Sydney’s Chatswood industrial precinct for A$30.5 million ($22 million), reflecting a net passing yield of 5.57 percent. The 6,491 square metre (69,868 square foot) holding is leased to Fitness First Platinum.
The tenant has occupied the property for 20 years, with the current lease running to 2031. Agents from Colliers and Knight Frank said the campaign drew strong interest from both local and offshore buyers. Read more>>
Japanese Group Sells Cairns Harbourside Hotel for $22M
The Cairns property formerly known as the Holiday Inn, now operating as the Harbourside Hotel, has sold for a speculated price of A$30 million ($21.6 million). The vendor is the local arm of Japan-based construction and hospitality group Taisei Kanko.
The asset sat vacant from mid-2024 after 33 years in operation. An investor represented by Celestial Capital is understood to be the buyer, with sources noting that the same group sold a Mercure hotel in Townsville six months earlier. Read more>>
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