Late September’s news that the Goldin Financial Global Centre had finally sold after a two-year struggle for the Hong Kong office tower appears to have been premature, according to local media reports of a new legal case involving the property.
Evergrande Loses $770 Million on Sale of Hong Kong Plot Seized by Oaktree
China Evergrande Group shared some more bad news on Sunday when it announced a loss of approximately $770 million on a project in Hong Kong’s New Territories.
The troubled developer’s latest financial failure is a result of receivers appointed by… Read More>>
LaSalle Acquires Shanghai Apartment Building from Landsea for $35.2M
An opportunistic fund managed by LaSalle Investment Management is acquiring a building in Shanghai’s Yangpu district from Landsea Green Management Limited for RMB 253 million ($35.2 million), with market sources expecting the US firm to renovate the property for use… Read More>>
Evergrande Chairman’s $89M Hong Kong Mansion Seized by Creditor
Evergrande’s credit crisis is denting the personal fortune of its founder Xu Jiayin, with local records in Hong Kong showing that a HK$700M ($89 million) mansion on Hong Kong’s Peak previously owned by a company controlled by the property billionaire… Read More>>
CapitaLand Sets Up Pair of RMB Business Park Funds In China
CapitaLand Investment continues to demonstrate its ability to raise funds domestically in China, teaming up with 10 local investors to establish RMB 4 billion ($550 million) in new renminbi-denominated vehicles, according to an announcement on Thursday.
CapitaLand’s new renminbi funds… Read More>>
Ivanhoe Cambridge Opens Sydney Office as APAC Team Expands
Days after making expanding its Australian commitments with a $649 million student housing investment, Canadian pension fund manager Ivanhoe Cambridge announced that it has set up its first office in the country.
The unveiling of the office in Sydney was… Read More>>
Hines Inks $960M Aussie Rental Residential JV with Canada’s Cadillac Fairview
US developer Hines is going deeper into Asia Pacific’s build-to-rent sector through a partnership with Canadian pension manager Cadillac Fairview targeting A$1.5 billion ($960 million) worth of rental homes in Australia, according to a press release Wednesday.
The joint venture… Read More>>
Gaw Capital Said Nearing $540M Buy of Blackstone Tokyo Sheds
Hong Kong’s Gaw Capital Partners is said to be nearing a deal to acquire seven Japanese warehouses owned by funds managed by Blackstone for about JPY 80 billion ($540 million).
Sources familiar with the discussions confirmed with Mingtiandi an earlier… Read More>>
LaSalle Hires PGIM’s Matthew Yao to Lead RMB Strategy
LaSalle Investment Management is taking advantage of a newly won license to raise local currency funds in China by launching its first renminbi strategy, and has hired former PGIM Real Estate executive Matthew Jianguo Yao to run the new fund.
Keppel REIT Enters Japan Market with $60M Ginza Office Buy
Keppel REIT is entering the Japanese market with a S$85.7 million ($60.5 million) acquisition on the capital’s most famous shopping street, according to an announcement by the manager of the Singapore-listed trust late Friday.
The REIT is set to acquire… Read More>>
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