Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Join the Mingtiandi Proptech Forum 2021
      • Asia Proptech 2021: COVID-19 Accelerates a Trend
      • Panel Talk: Tech Adoption in Logistics Real Estate
    • Promote Your Brand with the Mingtiandi Proptech Forum 2021
    • 2021 Mingtiandi Event Calendar
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

Vanke Sues US Partner Over Struggling NYC Project and More Asia Real Estate Headlines

2020/11/25 by Shiunne Bulsombut Leave a Comment

100 E 53rd Strt

In Mingtiandi’s latest roundup of regional news headlines, a legal dispute between Chinese developer Vanke and its New York-based partner heats up, JD.com’s logistics arm reportedly mulls an IPO targeting a $40 billion valuation, and the Delhi High Court is weighing whether Amazon’s case against business partner Reliance has any merit.

Yardi Facility Manager

Vanke Sues US Partner Over Struggling NYC Condo Project

A legal dispute between partners RFR Holding and Vanke US over their luxury residential condominium development at 100 East 53rd Street in Midtown Manhattan is intensifying.

In response to a lawsuit filed by Aby Rosen’s RFR in late October — which accused Vanke of orchestrating “an irreconcilable and grossly improper conflict of interest” when its affiliate purchased a $115 million participation interest in the property’s construction debt and became a controlling party in the loan — Vanke has now filed a countersuit that seeks to remove RFR as the partnership’s managing member entirely. Read more>>

JD’s Logistics Unit Weighs IPO at $40B Valuation

JD.com Inc’s logistics unit is considering an initial public offering that could raise at least $5 billion, according to a person familiar with the matter.

JD Logistics is targeting a valuation of about $40 billion, the person said, asking not to be identified as the information is not public. The company is leaning towards choosing Hong Kong as a venue for the IPO, the person said. JD has held early discussions with banks, said people familiar with the matter. Read more>>

Amazon Takes Retail Battle With India’s Reliance Into Court

A battle between Amazon.com and Reliance Industries Ltd to dominate India’s $1 trillion consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer.

At the centre of the case is Amazon’s efforts to block Reliance’s planned purchase of Future Group’s assets, saying the Indian retailer violated a contract by agreeing to a sale to a rival controlled by billionaire Mukesh Ambani. The Delhi High Court is now weighing whether the US e-commerce giant has any legal basis to object to the transaction. A ruling is expected in weeks. Read more>>

Cromwell E-REIT to Acquire Italy Logistics Park for €52.6M

Cromwell European Real Estate Investment Trust (Cromwell E-REIT) has entered into an agreement via a wholly-owned vehicle to acquire a logistics park in Italy for €52.6 million ($62.6 million).

The freehold intermodal logistics park with 156,888 square metres (square feet) of net lettable area will add about 10 percent to Cromwell E-REIT’s overall portfolio NLA, the manager of Cromwell E-REIT said in an exchange filing on Wednesday morning. Read more>>

Proptech Registration Column

China Resources Land’s Services Unit Launches $1.6B HK IPO

The property management arm of mainland developer China Resources Land has launched an initial public offering in Hong Kong that could raise up to HK$12.3 billion ($1.6 billion), the latest in a list of Chinese companies hoping to raise funds on the city’s stock exchange.

China Resources Mixc Lifestyle is offering 550 million shares at a maximum price of HK$22.30 each, the company said in a prospectus released Wednesday. There is an option to sell an additional 82.5 million shares to meet any excess demand. Read more>>

Hana Financial Selling Debt Tied to Manhattan Properties

Korean lender Hana Financial Investment is selling $173 million in debt tied to two prominent New York City assets. Hana is selling off a $145 million construction loan on Caspi Development’s luxury hotel project at 456 Greenwich Street in Tribeca and a mezzanine loan on Real Estate Equities Corp’s boutique office development at 1 St. Marks Place in the East Village, Commercial Observer reported.

Newmark Knight Frank is auctioning off the debt with initial bids starting on Dec. 10. Neither of the loans are in default. Read more>>

India’s Embassy Starts First Co-Living Project, Targets 99 More by 2021

Embassy Group, which recently entered into co-living business, on Tuesday said it had started its first centre in Bengaluru in a tie-up with a building owner and plans to touch 100 facilities by the end of next year through this asset-light model.

In August, Embassy announced its foray into the co-living segment with a planned investment of $500 million over the next three years to expand the business across major cities. Read more>>

MTD Proptech Report

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Related Stories

  • Evergrande Services IPO Said to Raise $1.8B and More Asia Real Estate HeadlinesEvergrande Services IPO Said to Raise $1.8B and More Asia Real Estate Headlines
  • Shanghai Skyscraper Now on Sale for Singles Day And More China Real Estate HeadlinesShanghai Skyscraper Now on Sale for Singles Day And More China Real Estate Headlines
  • Blackstone Boosts Asset Portfolio in Run-Up to $1B India REIT IPOBlackstone Boosts Asset Portfolio in Run-Up to $1B India REIT IPO
  • Blackstone, Embassy Prepare for $1B IPO of India’s First REITBlackstone, Embassy Prepare for $1B IPO of India’s First REIT

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Amazon, China Resources Land, China Vanke, Cromwell EREIT, Embassy Group, Hana Financial Group, India, IPO, JD.com, NYC, Reliance Group

MTD Proptech Report Download

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Yardi Commercial Cafe

Get Mingtiandi Delivered

Proptech Registration Column

Latest Stories

Sherman Kwek CDL

Singapore’s CDL Warns of Loss After China Developer Investment Swells to $1.4B

Alibaba Unit Leases Most of ARA, Chelsfield SG Project and More Asia Real Estate Headlines

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

Chief Investment Officer for Asia, Hines

Hines Hires New Asia Investment Chief as Fund Management Business Grows

Sponsored Features

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

COVID-19 Uncertainty Creates New Priorities for Real Estate Investors Sponsored Feature

Urban planning

Urban Placemaking with Big Data and Little People Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Eagle Hospitality Trust Hotels Declare Bankruptcy as Singapore REIT CollapsesEagle Hospitality Trust Hotels Declare Bankruptcy as Singapore REIT Collapses

Hines Hires New Asia Investment Chief as Fund Management Business GrowsHines Hires New Asia Investment Chief as Fund Management Business Grows

Blackstone Closes on $1.1B China Logistics Deal and More Asia Real…Blackstone Closes on $1.1B China Logistics Deal and More Asia Real Estate Headlines

Tech Adoption in Asian Real Estate: Download the ReportTech Adoption in Asian Real Estate: Download the Report


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • Join the Mingtiandi Proptech Forum 2021
      • Asia Proptech 2021: COVID-19 Accelerates a Trend
      • Panel Talk: Tech Adoption in Logistics Real Estate
    • Promote Your Brand with the Mingtiandi Proptech Forum 2021
    • 2021 Mingtiandi Event Calendar
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy. AcceptRefuse