Just 25 months after raising $1.35 billion in what then ranked as Vietnam’s largest IPO ever, Hanoi-based residential developer Vinhomes is selling a minority stake in the company to a KKR-led consortium for VND 15.1 trillion (US$650 million), according to… Read More>>
Movie Star’s Beauty Brand Buys Shanghai Building From Tishman Speyer for RMB 1.8B
Selling face cream is not the usual path to owning large commercial buildings but, with some help from WeChat, a Chinese beauty products brand controlled a by a celebrity couple just purchased a Pudong office block for RMB 1.76 billion… Read More>>
Alpha, Manulife Team with Indonesian Builder for $200M Warehouse JV
Singapore-based Alpha Investment Partners Limited has joined forces with a subsidiary of Manulife Financial Corporation and Indonesian warehouse specialist PT Mega Manunggal Property Tbk (MMP) for a new $200 million logistics investment in Jakarta, according to an announcement to the… Read More>>
Dutch Investor Commits $65M to Nuveen APAC Fund
Nuveen Real Estate received a shot of additional capital for its Asia Pacific Cities strategy recently as an unnamed Dutch investor committed $65 million to the US-based company’s core strategy in the region.
In announcing the investment late last week,… Read More>>
Aberdeen Standard Postpones Launch of Japan Residential Fund on COVID-19 Concerns
The UK’s Aberdeen Standard Investments (ASI) has put its Japan residential tie-up with Sumitomo Mitsui Trust Bank (SMTB) on ice, as the property market in the world’s third largest economy comes under pressure from a recession triggered by the COVID-19… Read More>>
Luckin Coffee Boss Said Facing Charges Over RMB 2.2B Sales Scam
Luckin Coffee chairman Charles Zhengyao Lu’s multi-billion dollar business empire is curdling like a week-old latte, as the founder of three listed companies is said to be in line for criminal charges over his role in a RMB 2.2 billion… Read More>>
Simon Properties Sues in US Court to Cancel $3.6B Acquisition of Taubman
The COVID-19 pandemic drove the biggest drop in US retail sales ever during April, and now the coronavirus has also killed off the country’s largest mall developer’s appetite for a $3.6 billion merger.
Simon Property Group in a 202-page declaratory… Read More>>
Link REIT Said in Talks to Buy Morgan Stanley’s £390M European HQ in London
Link REIT is said to be in negotiations to buy Morgan Stanley’s European headquarters in London in what would be the trust’s first acquisition in Europe, with the prospective acquisition surfacing less than two months after the trust completed its… Read More>>
JLL Names New Head of APAC Hospitality Division
JLL has promoted the CEO of its hospitality business in Asia to the top role regionally, adding Australia, New Zealand and the Pacific Island markets to the senior executive’s territory.
Mike Batchelor, a 27-year employee of the US-based commercial real… Read More>>
Expedia Said Surrendering HK$1.75M Per Month Office in Central
Just two years into a four-year lease, online travel giant Expedia is said to be surrendering its 25,000 square foot (2,322 square metre) office in The Center in Hong Kong, after the company in February announced layoffs of 3,000 staff… Read More>>
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