Jun Park, head of South Korea at Brookfield Asset Management (Image: Brookfield)
Seoul’s growing role as a real estate investment hub is evident again today as Brookfield and KKR near a $720 million logistics deal, with news of those negotiations leading Mingtiandi’s headline roundup. Also in the news, CapitaLand upsizes its China REIT IPO and Australia’s Scape bids for a stake in a retirement village operator.
KKR Named Preferred Bidder for Brookfield’s $720M Seoul Logistics Complex
A consortium of KKR and its Seoul-based real estate investment arm Kreate Asset Management has been picked as the preferred buyer of Brookfield Cheongna Logistics Center in what is expected to mark the largest logistics transaction in South Korea, according to investment banking sources on Monday.
The potential deal, valued at around KRW 1 trillion ($720 million), signals a rebound in the domestic logistics industry amid a dearth of new supply in the Seoul Metropolitan Area. Read more>>
CapitaLand Boosts Shanghai Mall IPO to $320M
CapitaLand China Trust will subscribe for 5 percent of the RMB 2.29 billion ($320 million) offering in the listing of a Shanghai unit.
The REIT’s manager said in an announcement on Monday that the offer size has been finalised at a 7 percent premium over the previously estimated RMB 2.14 billion. It also gave details of the accompanying injection of CapitaMall Yuhuating in Changsha into CapitaLand Commercial C-REIT. Read more>>
Scape Said to Lead Bidding for Stake in Aussie Retirement Village Operator Keyton
Student accommodation provider Scape is believed to be shaping up as the frontrunner in the contest for a stake in retirement village operator Keyton, say sources.
Aware Super owns 49.9 percent of Keyton, while APG owns 25 percent and the 25 percent stake for sale is owned by Lendlease, which previously owned the entire business. Read more>>
Macquarie Launches Millbray Land Lease Community Brand
Macquarie Asset Management’s Macquarie Real Estate Partners on Tuesday said it has established a land lease communities group called Millbray, aimed at growing demand from Australian seniors for retirement housing.
Initially focused on greenfield development of new communities, Millbray aims to deliver at least 5,000 homes in markets along the Australian eastern seaboard. To date, Millbray has secured over 2,000 home sites across Queensland and New South Wales, with a gross development value of over A$1.7 billion ($1.1 billion). Read more>>
Yuexiu REIT to Sell 50% Stake in Guangzhou Office Tower to Sponsor for $480M
Yuexiu REIT announced that it will sell a 50 percent stake in Guangzhou Yuexiu Financial Tower for RMB 3.43 billion ($480 million) as part of a strategic restructuring plan.
The trust will also reorganise the remaining 50 percent interest, reducing its effective beneficial interest in the landmark office tower to 49.495 percent. Read more>>
Mainland Developers Cut Rents, Boost Incentives as Office Bust Continues
Chinese commercial developers are seeking to lure tenants with value-added services such as subsidies for charging electric vehicles in addition to lower rents, as they battle record-high vacancy rates across the country.
Empty offices are increasingly common even in top cities such as the southern tech hub of Shenzhen and commercial capital Shanghai, as the sector grapples with sluggish demand due to corporate cost-cutting and multinational companies shrinking their presence. Read more>>
Singapore Land Authority Launches Master Tenant Tender for Tanglin Road Complex
A sprawling 5.7 hectare (14 acre) site in Tanglin Road that was once the home of British intelligence services — and later the Internal Security Department of Singapore — is up for tender to a new master tenant, part of plans to rejuvenate the historically significant site in an exclusive, leafy embassy enclave.
The cluster of more than 30 buildings, which real estate player LHN has been leasing since 2008, can now have new uses such as art galleries and spaces for co-working and co-living, the Singapore Land Authority said Thursday. Read more>>
Singapore Worker Housing Rents Up 82% Since 2019
Rents of worker dormitories in Singapore rose 81.5 percent in the past six years, as demand grew steadily and costs rose amid inflationary pressures, and are expected to rise further with ramped-up construction demand.
Rental rates in a commercial dormitory averaged S$490 ($382) per bed per month in the first half of 2025, up from their trough of S$270 in the first half of 2019, according to a report by property consultancy Knight Frank and Dormitory Association of Singapore Ltd. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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