Ireland’s largest building leads Mingtiandi’s roundup of Asia real estate headlines today with the news that a South Korean investor has purchased the supersized shed near Dublin.
In other headlines from around the region, the retail woes in Hong Kong continue with the closure of a Chinese budget chain, while a US private equity giant has agreed to pay $114 million for a pair of Indian office assets.
Elsewhere, a Singapore-listed REIT has acquired three industrial properties in Germany for €38 million.
Ireland’s largest building, the Tesco distribution centre in Donabate, County Dublin, has been sold to a South Korean investor for about €160 million ($177 million).
The off-market acquisition of the 73,207 square metres (788,000 square foot) warehouse by KTB Investments & Securities and KTB Asset Management represents the largest single-asset logistics transaction to have taken place in the Irish market. Read more>>
Realty firm Indiabulls Real Estate has agreed to sell commercial projects in Mumbai and Gurugram to global investment firm Blackstone for an enterprise value of INR 8 billion ($114 million).
The Mumbai-based developer said that the company and its certain subsidiaries, have entered into definitive agreements with entities controlled by The Blackstone Group to divest the entire stake in Mariana Infrastructure Limited (which owns commercial project at Gurugram) and the commercial assets/development at Mumbai at an aggregate enterprise value of INR 8 billion. Read more>>
Singapore’s sovereign fund GIC is investing around INR 4.3 billion ($60 million) in listed real estate developer Prestige Estates through a preferential issue of equity shares.
GIC-managed investment firm Gamnat Pte will acquire 13.4 million equity shares of the Bengaluru-based company at INR 323.22 per share, Prestige said in a regulatory filing. Read more>>
Hang Lung Properties Limited (Hang Lung), a property developer headquartered in Hong Kong, has secured a HK$1 billion ($130 million) green loan facility from OCBC’s Hong Kong branch.
This is Hang Lung’s maiden green loan, the proceeds of which will be used to finance commercial property development projects in China, which have received gold certifications or pre-certifications issued by the US Green Building Council of Leadership in Energy and Environmental Design (LEED), promoting sustainable development in the real estate industry in China. Read more>>
Cromwell European Real Estate Investment Trust (Cromwell E-REIT) is acquiring a portfolio of three freehold light industrial/logistics assets in Germany for a purchase price of €38 million ($42 million), the manager said in a regulatory update.
The REIT had entered into a purchase agreement and lease agreements with subsidiaries of Felss Group GmbH on Thursday to acquire the portfolio under a sale and leaseback arrangement. Read more>>
Residents of Hong Kong are hunting for homes all over the world as tense anti-government protests look set to drag into the new year.
Real estate brokers from Australia to Canada have seen a surge in interest over the past few weeks, with the desire to secure a safer future prompting many to look beyond the Asian financial hub. Read more>>