William Tay, CEO and executive director of CapitaLand Ascendas REIT’s manager
Spanish warehouses lead today’s look at real estate news from around Asia Pacific as a Singapore-listed REIT moves into a new European market. Also making the list are a Japanese logistics deal and Singapore developer CDL managing to triple its profit in 2025.
CapitaLand Ascendas REIT Enters Spain Market With $146.5M Logistics Buy
CapitaLand Ascendas REIT said Friday that it is purchasing a logistics portfolio in Spain for a total consideration of S$185.4 million ($146.5 million).
The portfolio comprises two Grade A logistics assets in Madrid, Spain’s capital, and four Grade A logistics properties in Barcelona, the nation’s second-largest city, with some of the assets acquired from Logicor, a European platform purchased from Blackstone by China’s CIC sovereign fund in 2017. Read more>>
LaSalle Logiport REIT Selling Japanese Warehouses for $73M
Tokyo-listed LaSalle Logiport REIT said Thursday that it has agreed to sell two fully leased warehouses in Aichi prefecture for a combined JPY 11.4 billion ($73 million).
The REIT sponsored by LaSalle Investment Management is selling the Aisai Logistics Center in Aisai city and Kariya Logistics Center in Kariya city to an undisclosed buyer, with settlement scheduled for 6 March. Both properties are occupied by single tenants with 100 percent occupancy and a total net lettable area of 34,653 square metres (373,002 square feet). Read more>>
Singapore’s CDL Triples Profit in 2025
City Developments Ltd, the Singapore property group controlled by one of the country’s wealthiest families, saw its profits triple last year, helped by a renewed housing boom and divestments to trim debt.
Net income jumped to S$630 million ($498 million) in 2025 from S$201 million a year earlier. Revenue rose 9.7 percent to S$3.6 billion, beating the S$3.5 billion average estimate of analysts. Read more>>
Centurion Corp Sees H2 Profit Drop on Lower Valuation Gains
Centurion Corp on Thursday posted a 82 percent year-on-year drop in net profit to S$40.9 million ($32.3 million) for the second half of 2025.
For the full year, net profit fell 67 percent to S$114.8 million. The decrease came mainly from a lower fair-value gain of S$22.9 million recorded on investment properties in 2025, compared with the exceptional fair-value gain of S$219.1 million in 2024, the purpose-built accommodation operator said in a bourse filing. Read more>>
Kailong Marketing Hong Kong Cold Storage Facility for $93M
Hong Kong fund manager Kailong has put up for sale a cold storage facility in the city’s Kwai Chung area at an asking price of HK$730 million ($93.3 million), according to materials distributed by property brokerage Centaline.
Kailong is making available the Konnect Smart Logistics Centre on Wing Kei Road in Kwai Chung after having acquired what was then the Wing Shing Industrial Building for around HK$443 million in 2022. Read more>>
Itochu Buying Stake in Developer Sun Frontier Fudousan for $210M
In a filing with the Tokyo Stock Exchange this week, Itochu Corporation announced the launch of a tender offer for shares in Sun Frontier Fudousan totalling more than JPY 32 billion ($210 million).
Itochu is offering JPY 2,800 per share to acquire up to 6.66 million shares, representing a maximum 12.07 percent stake on a pre-dilution basis. In parallel, Itochu will subscribe to 5.5 million newly issued shares at JPY 2,438 each, giving it an ownership ratio of about 20 percent after the capital increase. Read more>>
Equinix, CPPIB Said Near $4B Deal for Nordic Data Centre Operator AtNorth
Equinix and the Canada Pension Plan Investment Board are nearing a deal to acquire AtNorth, a pan-Nordic data centre operator owned by Switzerland’s Partners Group, people with knowledge of the matter said.
The consortium is putting the finishing touches on a purchase that could value AtNorth at $4 billion including debt, according to the people. A transaction may be announced as soon as this week, they said. Read more>>
Infratil-Backed CDC Opens First Data Centre in Melbourne
CDC Data Centres has officially opened its first Melbourne data centre campus in the city’s Brooklyn suburb, aiming to develop more than 780 megawatts of capacity in the city.
Co-owned by New Zealand’s Infratil, Australia’s Future Fund and the Commonwealth Super Corporation, CDC described the project as a multibillion-dollar undertaking to build two facilities on the campus. 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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