South Korea’s Mirae Asset Management has sent a notice of termination to Dajia Insurance, formally scrapping its $5.8 billion acquisition of a portfolio of 15 high-end US hotels that the mainland group had taken over in the restructuring of troubled… Read More>>
Mirae Blames Chinese Side for Failed $5.8B Hotel Deal and More Asia Real Estate Headlines
A pair of Asian companies doing their best not to own a set of US luxury hotels leads today’s real estate news as Korea’s Mirae Asset Management and China’s Dajia Insurance hurl blame at each other over a failed $5.8… Read More>>
Anbang Sues Korea’s Mirae as $5.8B US Hotel Deal Collapses
China’s Anbang Insurance is suing Korea’s Mirae Asset Management for failing to pay for the $5.8 billion acquisition of a portfolio of 15 high-end US hotels, after the coronavirus pandemic stalled financing for the transaction.
The nationalised mainland insurer filed… Read More>>
Mirae Needs More Time to Close $5.8B Anbang Hotel Deal and More Asia Real Estate Headlines
A luxury hotel deal leads the way in Mingtiandi’s roundup of Asia real estate headlines today as the South Korean buyer is said to have asked for some more time to complete the $5.8 billion acquisition, as financing dries up… Read More>>
Anbang Said Selling Dutch Office Portfolio to Aviva for €700M
A Chinese financial firm which once devoured New York’s Waldorf Astoria has sold off its second set of real estate assets this year, with European media reports indicating that Anbang Insurance has disposed of a set of Netherlands office buildings… Read More>>
Mirae Selling Chicago Office Tower for $225M and More Asia Real Estate Headlines
A Chicago office block leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a South Korean investor is offloading the 31-storey property for $225 million – just $7 million more than its acquisition… Read More>>
HK Property Crisis Looms as Homeowners Face Negative Equity and More Asia Real Estate Headlines
Hong Kong leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that falling prices are driving homeowners into negative equity, spelling more trouble ahead for the property market.
In other news around the region,… Read More>>
Blackstone Buying Back Japanese Apartments From Anbang for JPY 300B
Blackstone is poised to buy back a portfolio of Japanese rental apartments from troubled mainland insurer Anbang Insurance for JPY 300 billion ($2.7 billion) in what would be the largest property deal ever in Japan.
Stephen Schwarzman’s Blackstone, which has… Read More>>
Evergrande Sends Humbled Coach Cannavaro for Re-Education and More Asia Real Estate Headlines
A mainland developer leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the company has banished the boss of its football team after a string of bad results.
In other news around the… Read More>>
Korea’s Mirae Said Buying US Hotel Portfolio From Anbang for $5.8B
Korea’s Mirae Asset Management has agreed to buy a portfolio of US luxury hotels from China’s Anbang Insurance for $5.8 billion, according to a report by the Wall Street Journal earlier today.
The deal comes more than one year after… Read More>>
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