OUE Commercial REIT recorded net property income of S$62.7 million ($45 million) in the third quarter, up 29.8 percent from the same period a year earlier, thanks to improved performance by its hospitality assets driven by a recovery in Singapore… Read More>>
APAC Hotel Investment to Dip 14% in 2023 Despite Travel Rebound
Rising interest rates and prolonged economic uncertainty have dimmed investor enthusiasm for hospitality assets in Asia Pacific with investment in the sector projected to drop by 14 percent to $10.1 billion this year, according to a recent report by JLL.
Mitsui-Backed REIT Buys Three Japan Hotels From First Brothers for $21M
A Tokyo-listed REIT sponsored by property giant Mitsui Fudosan has acquired a portfolio of three hotels in Japan for JPY 3.1 billion ($21.2 million).
Nippon Accommodations Fund said in a filing that the properties are Smile-branded hotels in the cities… Read More>>
Singapore’s Well Smart Picks Up $323M Sydney Hotel Project
Singapore-based Well Smart Investment Holdings is acquiring a Sydney hotel project from Chinese-owned developer ICD Property and local firm Belingbak with plans to repurpose the planned A$500 million ($323 million) hotel and residential tower as a hospitality-only development.
Controlled by… Read More>>
Indonesia’s Karim Family Buys Former Bank of China HQ in Sydney for $34M
Invictus Developments has acquired the former Bank of China Australian headquarters in Sydney for A$52.5 million ($34 million) with plans to convert the 15-storey tower into a luxury hotel as the Singapore-based investment firm assembles a portfolio of Aussie hospitality… Read More>>
CDL Buys Osaka Hotel for $58M, Adding to String of Hospitality Acquisitions
City Developments Ltd has acquired a 256-room Osaka hotel for JPY 8.5 billion ($58 million), chalking up the Singapore property giant’s third hospitality acquisition this year.
CDL paid roughly $230,000 per key for the Bespoke Hotel Shinsaibashi, a freehold property… Read More>>
Singapore-Listed Thakral Sells Osaka Hotel Stake, Eyes More Japan Divestments
Thakral Corp has sold its 50 percent stake in a 120-key business hotel in Osaka for an undisclosed sum as the Singapore-listed investment firm continues to scale back its exposure to Japanese real estate.
The firm, whose businesses span real… Read More>>
CapitaLand Ascott Trust to Buy Hotels in London, Dublin, Jakarta for $268M
Singapore-listed CapitaLand Ascott Trust plans to buy a pair of hotels in Europe and a serviced apartment building in Southeast Asia for a total of S$357.8 million ($267.5 million) as it moves to profit from a global travel rebound.
The… Read More>>
OUE C-REIT Achieves 23% Jump in Net Property Income as Hospitality Bounces Back
OUE Commercial REIT booked a 23 percent jump in net property income as it brought in S$115.3 million ($87.11 million) in the first half of the year on the ongoing strength of Singapore’s core office market and a rebound in… Read More>>
Invincible REIT Buying Six Japan Hotels From Sponsor Fortress for $400M
Invincible Investment Corporation, a Tokyo-listed hospitality and residential REIT, has agreed to acquire six hotels in Japan from affiliates of the trust’s sponsor, US asset manager Fortress Investment Group, for a total of JPY 57.2 billion ($400 million).
The largest… Read More>>
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