Tokyu Land president and CEO Hiroaki Hoshino
Japan’s Tokyu Land teams with investment firm Kennedy Wilson on a real estate debt fund targeting US projects, with that deal leading today’s headline roundup. Also in the news, Li Ka-shing’s CK Asset sells Australia farmland and Mitsubishi Estate’s shares attract a bullish fund manager.
Tokyu Land Launches $200M US Real Estate Debt JV With Kennedy Wilson
Tokyu Land US Corporation, a wholly owned subsidiary of Tokyu Land Corporation has teamed up with US investment manager Kennedy Wilson to launch a preferred equity and mezzanine real estate investment platform, according to an announcement on Monday.
Kennedy Wilson and Tokyu will target over $200 million in investments with a focus on preferred equity investments and mezzanine loans to high-quality sponsors across multi-family and industrial projects across the US, targeting investments of $10 million to $50 million. Read more>>
Hong Kong’s CK Asset Selling Farmland in Australia’s Victoria State for $21M
Hong Kong-listed CK Asset is banking just over A$33 million ($21.2 million) selling agricultural land in Victoria state’s Goulburn Valley to Melbourne-based Warakirri Asset Management.
The property arm of tycoon Li Ka-shing’s Cheung Kong group had acquired the 200 hectare (494 acre) set of fruit orchards in 2020 for A$26.5 million under a leaseback deal, with Warakirri acquiring the properties on behalf of its Warakirri Farmland Fund. Read more>>
Japanese Fund Adds Mitsubishi Estate Shares as Property Market Outlook Improves
A top-performing Japanese stock fund bought shares of Mitsubishi Estate over the past months on the view that inflation will lift revenue as the domestic real estate sector remains attractive.
Orbis Investment Management reassessed the value of all the properties that Japan’s biggest developer owns, and “the stock price turned out to be much cheaper than that,” said Tsukasa Tokikuni, head of the fund’s unit in Tokyo. Read more>>
Aussie Office Funds Deliver Positive Returns as Market Rebounds
Office towers held in Australia’s biggest property funds have delivered their first positive quarterly returns in more than two years, one of the strongest signs yet of recovery for a sector that has endured steep write-downs since the rise of hybrid working.
Office funds holding more than A$34 billion ($21.8 billion) in assets booked a 1.1 percent total return over the first quarter of calendar 2025, according to the MSCI/Mercer Australia Core Wholesale Monthly Property Fund Index. Read more>>
China Supertall Projects Resume Construction
Two landmark skyscraper projects in China have resumed construction after more than five years of suspension, spurred by supportive government policies and signs of market recovery.
The Tianjin 117, a mixed-use skyscraper designed to be the tallest building in northern China, is scheduled to restart construction on 30 April after nearly a decade-long hiatus caused by the developer’s financial collapse, the Ministry of Housing and Urban-Rural Development recently disclosed on its public platform. The project is expected to be completed within two years. Read more>>
NTT Data Plans $1.2B Hyderabad Data Centre Campus
NTT Data, cloud platform company Neysa Networks and the Telangana state government signed an agreement last week to establish an AI data centre cluster in Hyderabad with an investment of INR 105 billion ($1.2 billion).
The planned 400-megawatt cluster will reportedly host India’s most powerful AI supercomputing infrastructure with 25,000 graphics processing units. Mumbai-based Neysa provides access to GPUs and has raised $50 million to date. Many of the company’s leadership team were previously at NTT/Netmagic. Read more>>
Condo Redevelopment Project on Singapore’s Upper East Coast Fails to Find Buyer
The collective sale tender for Elias Green closed Tuesday with no bids, after the condominium in Singapore’s Pasir Ris area went up for sale in March with a guide price of S$928 million ($707.8 million).
The collective sale is now moving into a 10-week private treaty period, and ERA is following up with several interested parties, said Tay Liam Hiap, the agency’s managing director of capital markets and investment sales. Read more>>
Central Tokyo Condo Prices Continue to Climb
The average unit price of new condos put up for sale in Tokyo’s densely populated 23 wards exceeded JPY 100 million ($709,000) for the second straight year in fiscal 2024, Real Estate Economic Institute said Monday.
In the year ended 31 March, the average price rose 11.2 percent from the previous year to JPY 116.32 million, hitting a record high for the fourth consecutive year, reflecting increases in land prices and construction costs, including labour expenses. Read more>>
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