Ho Bee Land executive director and CEO Nicholas Chua (Image: Ho Bee Land)
Singapore’s appetite for Australian real estate is on display again as SGX-listed Ho Bee Land picks up a set of residential sites for $63 million. Also making today’s headline list are a deeply discounted sale of China Vanke bonds and Qatar’s sovereign fund backing buyouts in Japan.
Singapore’s Ho Bee Land Buys Aussie Residential Sites for $63M
Ho Bee Land has acquired five residential development sites in Australia for A$96.6 million ($63.3 million), in line with its aim to develop master-planned communities in Queensland and Victoria.
The sites are expected to yield 1,079 residential lots, the SGX-listed property player said in a Wednesday filing. Three of the sites are in Queensland. One of them is a 7.69 hectare (19 acre) site in Ripley, between the economic hubs of Springfield and Ipswich. Read more>>
Mysterious Vanke Bond Trade Spooks Markets
A mysterious trade of a China Vanke bond at a deep discount briefly jolted credit markets just two days before the distressed developer’s anticipated move to redeem the note, in another reminder of the fragile mood among investors.
The trade, consisting of several consecutive transactions of Vanke’s 4.11 percent RMB bond, was completed at RMB 82.7 ($11.60) at 9.30am Beijing time on Tuesday, according to data from the Shenzhen Stock Exchange. The price, which was well below the RMB 99.9 level at Monday’s close, would translate into an annualised yield of 3,650 percent if Vanke exercises a call option to buy back the bond on 13 November, according to several credit traders. Read more>>
QIA Teams With Orix for $2.5B Japan Private Equity Fund
Japanese financial services firm Orix is teaming up with the Qatari sovereign wealth fund to launch a $2.5 billion Japan-focused private equity fund, Orix said Tuesday.
Orix will hold a 60 percent stake and the Qatar Investment Authority a 40 percent stake in the new fund management firm, which will invest in Japanese companies with a particular focus on firms in the midst of succession changes, listed companies undergoing privatisation and companies carrying out carve-outs of divisions or subsidiaries, Orix said. Read more>>
Tokyo-Listed CREAL Sets Up Third Hotel Development Fund With SBI Shinsei Bank
Tokyo-listed investment manager CREAL said this past week that, together with its CREAL Hotels hospitality unit, it has set up a new apartment hotel development fund in collaboration with a division of SBI Shinsei Bank Group.
The vehicle will back a 36-room long-stay hotel that will combine tech-enabled operations and experiential hospitality. The joint fund with Showa Lease marks the third co-investment initiative between the companies, CREAL said. Read more>>
SGX-Listed Stoneweg REIT Sells Slovakian Assets for $81M
The manager of Stoneweg Europe Stapled Trust has announced that its wholly owned subsidiary has divested its entire Slovakia investment in logistics/light industrial properties for a total property price of €$70 million ($81.1 million).
This divestment was done via the sale of 100 percent of its shares held in five Slovakian property companies. The consideration for the divestment is 3.5 percent above SERT’s 30 June carrying value of the combined net equity value of €67.7 million. Read more>>
Hankyu Hanshin Properties Announces Second Toronto Area Residential JV
Graywood Developments and Hankyu Hanshin Properties this week announced their second joint venture development in Greater Toronto, a 53-storey, 591-unit build-to-rent community located at the corner of Church and Dundas in the heart of downtown.
Situated within the Toronto Metropolitan University campus and steps from Toronto’s financial core, 241 Church is planned to combine urban connectivity with completion targeted for the first quarter of 2028. Read more>>
Brookfield Said in Talks to Sell Sydney Office Complex Stake to Investa for $295M
Brookfield is said to be in talks to sell a 50 percent stake in a Sydney office complex to local fund manager Investa for A$450 million ($295.3 million), according to a report in The Australian this week.
The North American asset manager is said to have earlier engaged Savills and JLL to market a stake in World Square in Sydney’s central business district, as demand for Australian office assets has shown signs of recovery. Read more>>
Tomson Group Boss Charles Tong Buys $14.4M Hong Kong Condo
Charles Tong, the vice chairman and executive director of Tomson Group, has bought a HK$112 million ($14.4 million) home in Mid-Levels West, joining a growing number of affluent buyers who are increasingly confident in Hong Kong’s residential market.
Sold for HK$48,060 per square foot, the 2,335 square foot (217 square metre) four-bedroom unit at The Legacy, developed by Henderson Land, was handed over to Tong on Monday, according to the Land Registry. Read more>>
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