Digital Edge Explores $10B Sale and More APAC Real Estate Headlines

In today’s roundup of regional headlines, Singapore-based data centre operator Digital Edge weighs a sale of up to $10 billion, activist investor Elliott builds a stake in Japanese logistics giant Nippon Express, and South Korea’s JR Global REIT files for court receivership in a regional first.

Digital Edge Explores $10B Sale With JPMorgan Advising on Process

Singapore-based data centre operator Digital Edge, backed by alternative asset manager Stonepeak Partners, is exploring options including a partial or full sale, people familiar with the matter said. JPMorgan Chase is advising on the review.

A transaction could value Digital Edge at as much as $10 billion, the people said. The company has seen an acceleration in leasing by US hyperscalers over the past 18 months. Read more>>

IGIS Names Gapju Cho CEO Amid NPS Tensions, Hillhouse Delays

South Korean real estate fund manager IGIS Asset Management is set to appoint Gapju Cho, former head of its new business development division, as chief executive for a one-year term, according to industry sources.

The appointment comes as IGIS navigates a strained relationship with the National Pension Service, a key limited partner, and delays in a planned sale of the firm to foreign investor Hillhouse. Read more>>

Mitsui OSK Lines Plans REIT Under Elliott Pressure

Japanese shipping company Mitsui OSK Lines is preparing to establish a REIT to monetise its property holdings, CEO Jotaro Tamura told the Wall Street Journal. The move comes amid pressure from activist investor Elliott Investment Management to improve shareholder returns.

Tamura said the company plans to sell some of its properties through the vehicle. He declined to comment on the potential size of the REIT. Read more>>

JR Global REIT Files for Court Receivership After $27M Bond Default

JR Global REIT has filed for court receivership after failing to repay KRW 40 billion ($27.1 million) in bonds, marking the first time a domestically listed REIT in South Korea has entered rehabilitation proceedings.

The company cited management normalisation and preservation of going-concern value as reasons for the filing. JR Global REIT, which holds office properties in the US and Europe, listed on the Korea Exchange in 2020. Read more>>

Elliott Discloses 5% Nippon Express Stake, Shares Hit Record High

US activist investor Elliott has disclosed a 5.04 percent stake in Nippon Express Holdings, sending shares of the Tokyo-based logistics company up as much as 18 percent in intraday trading, the largest single-day gain in the company’s history.

Elliott has been increasing its investment activity in Japan as the fund manager pushes Japanese companies to improve returns to shareholders. Read more>>

CapitaLand Investment Eyes Single Flagship C-REIT to Drive China Scale

Singapore’s CapitaLand Investment plans to eventually merge its two China REITs into a single flagship vehicle. It listed its first internationally sponsored retail C-REIT in September 2025, seeded with two Shanghai malls.

The company plans to list a second commercial C-REIT in the second or third quarter of 2026, Puah Tze Shyang, CEO of CapitaLand Investment China, said at the group’s annual general meeting on Tuesday. Read more>>

Wing Tai, Metro Win $417M Dunearn Land Tender

A Wing Tai and Metro joint venture has won a Singapore government land tender for a Dunearn Road site in Bukit Timah with a top bid of S$533 million ($417.4 million), or S$1,625 per square foot of potential built area.

The offer was 3 percent above the next-highest bid from a Frasers Property-led consortium and 15.3 percent higher than the price paid for an adjacent Dunearn site in June 2025. Read more>>

Vornado Buying 49% Stake in $1.1B Manhattan Tower From Soho China Founder

Vornado Realty Trust is acquiring a 49 percent stake in Park Avenue Plaza, a 1.2 million square foot (111,484 square metre) office tower at 55 East 52nd Street in Manhattan, in a deal that values the property at $1.1 billion.

Vornado is buying the interest from Closer Properties, the firm of Soho China founder Zhang Xin. Fisher Brothers will retain its 51 percent stake and continue to manage and lease the building. Read more>>

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