PGIM Real Estate has moved to acquire a pair of Hong Kong hotels, including snapping up a mid-range Central hostelry for a reported HK$850 million ($109 million), as the city’s travel slump persists and the market for residential conversions heats… Read More>>
Hines Fund Buys Butterfly Hotel in Hong Kong to Create Co-Living Complex
US developer Hines has acquired Butterfly on Prat, a 158-room hotel in Hong Kong’s Tsim Sha Tsui area, which the firm plans to convert into a co-living flagship to be managed by local residential operator Dash Living.
The 18-storey asset… Read More>>
Hotel in Hong Kong’s Tsim Sha Tsui Said Sold to US Fund for $123M
Butterfly on Prat, a 158-room hotel in Hong Kong’s Tsim Sha Tsui area, has reportedly changed hands for HK$980 million ($123 million) as the local tourism collapse compels smaller lodging operators to sell their assets to redevelopment-minded investors.
Multiple market… Read More>>
POBA Commits $95M to AXA IM Life Science Fund and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, South Korea’s biggest pension fund is revealed as an investor in AXA’s life science property fund, Singapore-listed Prime US REIT secures a loan to finance a recent Florida acquisition, and Hong Kong developer… Read More>>
Dash Living Raises Cash for APAC Expansion and More Asia Real Estate Headlines
In our latest roundup of regional news headlines, Hong Kong co-living operator Dash raises funds for an expansion into key Asian cities, Singapore-listed Far East Hospitality Trust scores a five-year green loan from a local bank, and South… Read More>>