William Huang, chairman and chief executive of GDS Holdings also chairs DayOne
Mainland data centre giant GDS leads today’s roundup of real estate headlines, as the company prepares to debut its $335 million REIT on the Shanghai Stock Exchange this Friday. Also making news, Blackstone to launch a $3.4 billion buyout of Japan’s TechnoPro in the country’s largest take-private deal this year, while Macquarie moves to acquire a stake in Portuguese hospital group Luz Saude.
GDS $335M China REIT to Begin Trading on Shanghai Exchange
Mainland data centre titan GDS announced on Tuesday that its Shanghai-listed real estate investment trust will begin trading on Friday, 8 August.
The data centre REIT holds a data centre facility in the Jiangsu province city of Kunshan with GDS set to raise RMB 2.4 billion ($335 million) from the IPO, according to earlier announcements. Read more>>
Blackstone to Acquire Japan’s TechnoPro for $3.4B in Largest Deal This Year
Blackstone plans to acquire all shares of TechnoPro Holdings, a technology-focused staffing company, in a deal valued at JPY 500 billion ($3.4 billion), making it the largest take-private transaction of a listed Japanese firm this year.
The US firm will launch a tender offer for the Tokyo-listed staffing company, and the deal could surpass EQT’s JPY 400 billion buyout of Fujitec in July to become the largest take-private of a listed Japanese company this year. Under Blackstone, TechnoPro aims to accelerate engineer training and expand via acquisitions. Read more>>
Macquarie to Buy 40% of Portuguese Hospital Chain in $1.3B Deal
Sydney-based Macquarie Group is set to buy a 40% stake in Portuguese hospital operator, Luz Saude, from Fidelidade-Companhia de Seguros SA, a Portuguese insurer controlled by Chinese conglomerate Fosun International Ltd, according to people familiar with the matter.
The deal outbid rivals CVC Capital Partners Plc and KKR, and would give Luz Saude an enterprise value of more than €1 billion ($1.3 billion), one of the people said, even though a representative for Fidelidade said no formal agreement has been signed with any entity. Read more>>
Mapletree REIT Issues $155M Green Debt
Mapletree Pan Asia Commercial Trust has issued S$200 million ($155 million) of senior green notes at 2.45 percent interest rate, with the debt maturing in 2032, according to the manager of the REIT.
The proceeds will be used to finance or refinance eligible green projects of MPACT and its subsidiaries, added MPACT Management. Moody’s Investors Service has assigned a “Baa2” rating to the notes, which will be issued under its S$5 billion euro medium-term securities programme. Read more>>
CapitaLand’s CICT Plans $466M Fundraising Via Private Placement
CapitaLand Integrated Commercial Trust has announced the launch of nearly 284.4 million new units to raise gross proceeds of around S$600 million ($466 million), priced at S$2.11 apiece.
The issue price reflects a 2.5 percent discount to Monday’s adjusted volume-weighted average price (VWAP) of S$2.1637, and a 5.5 percent discount to the unadjusted VWAP of S$2.2334. Read more>>
Developer Country Garden Asks Court to Postpone Wind-Up Case
Country Garden Holdings plans to request a delay in its liquidation case at Hong Kong’s High Court to gain more time for restructuring, according to sources familiar with the matter. The company aims to submit its adjournment request this week.
To support the application, the Chinese developer will need a letter of support from its creditors. The next hearing is originally scheduled for 11 August, with the court to determine if and how long to postpone proceedings. Read more>>
Acrophyte Trust H1 Distributions Drops 42%
Acrophyte Hospitality Trust’s manager posted a fall in distribution per stapled security (DPS) to $0.00432 in the first half of 2025, down 42.2 percent in the year-ago period, on Wednesday. The distribution will be paid out on 26 September, after the record date of 15 August.
The declines came amid a reduction in portfolio size and softer lodging demand. The stapled group’s portfolio contracted 5.7 percent on the year. Acrophyte’s revenue fell 6.9 percent to $78.1 million, as the disposal of properties in 2024 reduced its room count and cut available inventory by 7.3 percent. Read more>>
Foreign Investors Target Korean Sheds as Bargain Buys Emerge
Foreign investment in South Korea’s logistics market is expected to rebound as global firms eye bargain deals amid the slowdown. Firms including DWS, Blackstone, and KKR are set to complete acquisitions in Q3, according to JLL’s capital markets head Min Su-hee.
In a recent move, Blackstone acquired two grade A logistics facilities totaling 120,000 square metres (1,300,000 square feet) in Gimpo and Namyangju. The assets are leased to major e-commerce and logistics tenants, including Coupang. Read more>>
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