Samty Holdings CEO Yasuhiro Ogawa
Tokyo-listed Samty REIT picks up a set of six apartment blocks from its sponsor and divests two properties, with those trades leading today’s headline roundup. Also making the list, Sunac China files a $1.3 billion claim against Wanda Group and Barings acquires a Perth mall.
Japan’s Samty REIT Buys Apartment Portfolio for $37M
Samty REIT informed the Tokyo Stock Exchange on 18 December that it has purchased a set of residential apartment blocks across Osaka, Tokyo and other cities for a total of JPY 5.8 billion ($37 million).
The purchase from the REIT’s sponsor, Samty Holdings, was announced at the same time that the listed trust said it was selling a pair of residential assets in Osaka and Nagoya to an undisclosed buyer for JPY 1.5 billion. Read more>>
Sunac China Said to Have Filed $1.3B Arbitration Claim Against Dalian Wanda Group
Mainland developer Sunac China Holdings has filed a claim against Wanda Group with the China International Economic and Trade Arbitration Commission asking to be compensated for a RMB 9.5 billion ($1.3 billion) investment in Wanda’s mall business in 2018, according to a report in The Paper citing sources familiar with the matter.
Together with Chinese tech giants Tencent and JD.com, Sunac had provided pre-IPO financing to Wanda in 2018, with the mall developer later failing to achieve that listing. Read more>>
Barings Buys Perth Shopping Centre for $46M
Multinational asset manager Barings has paid A$74 million ($46.1 million) for a large format retail centre near Perth in the biggest transaction for the sub-sector this year.
Joondalup Square comprises 13,216 square metres (142,256 square feet) of gross leased area across three freestanding buildings with a combined total site area of 27,598 square metres. The fully leased centre about 31 kilometres (19 miles) north of Perth has a weighted average lease expiry of 6.1 years by income. Read more>>
Hong Kong’s New World Said Asking Banks to Extend Loans
Distressed Hong Kong property firm New World Development is in talks with banks to extend the due dates of some bilateral loans, people familiar with the matter said, adding to concerns over the company’s ability to service one of the heaviest debt loads of its kind.
It’s unclear how much of a delay the builder is seeking for each loan. But the efforts show that the company — which had total liabilities of HK$220 billion ($28.3 billion) at the end of June — is exploring ways to alleviate financial pressure after recording its first annual loss in two decades. Read more>>
Singapore’s STT GDC Tops Out Manila Data Centre
ST Telemedia Global Data Centres announced this week that it has reached structural completion on STT Fairview 1, the first building in the Philippines’ largest carrier-neutral and sustainable data centre campus.
With its first phase expected to be activated in the second quarter of 2025, STT Fairview 1 is one of STT GDC Philippines’ seven data centres in the Philippines — collectively offering a design IT capacity exceeding 150MW and all operating on 100 percent renewable energy — across Metro Manila, Cavite and Davao, the company said. Read more>>
Indian Data Centre Operator Yotta Said in Talks With Oaktree for $500M in Credit
Indian startup Yotta Data Services is seeking to raise about $500 million to invest in its data centre parks, according to people familiar with the matter.
The firm is in talks with private credit funds including Oaktree Capital Management for the financing, the people said, asking not to be identified discussing a private matter. Cerberus Capital Management and Davidson Kempner Capital Management also had discussions with Yotta, they said. Read more>>
Chinese Students Seen Boosting Hong Kong Commercial Property Market
Hong Kong’s flailing commercial property market is getting a lift from the education sector as the number of Chinese students surges in the city.
Colleges are snapping up offices to turn them into classrooms, while investors are piling millions into dormitories to capture the growing demand from mainland Chinese. The sector is emerging as a bright spot in Hong Kong’s commercial real estate market, which has seen both leasing and sales plummet amid weak sentiment. Read more>>
Chinese Banking Regulator Said Asking Insurers to Report Vanke Debt Holdings
China’s banking regulator told the country’s biggest insurers to report their financial exposure to China Vanke, in a bid to assess how much support the developer needs to avoid default, according to people familiar with the matter.
The reviews began a few weeks ago and include holdings of bonds and private debt issued by China’s fourth biggest developer by sales, the people said. Read more>>
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