One of Singapore’s busiest activist investors seeks to boost its stake in a Japanese REIT, with that tender offer leading today’s headline roundup. Also making news, Tokyo-listed Kenedix REIT announces fresh acquisitions and China promotes a Hong Kong airport mega-project.
Kenedix REIT Buying Central Japan Shed for $81M, Unloading Assets in Trade With Sponsor
The flagship REIT of Japanese fund manager Kenedix is acquiring a warehouse in the southern fringe of Honshu island’s Chubu region for JPY 12.4 billion ($81 million) and divesting 13 properties for JPY 18.7 billion as part of a “mutual… Read More>>
TPG AG JV Buying Grand Nikko Tokyo Daiba for $692M in APAC’s Biggest Hotel Buy of 2024
Shortly after raising $2.5 billion to invest in Asian real estate, TPG Angelo Gordon is leading the region’s biggest hospitality investment so far this year with the JPY 106 billion ($691 million) purchase of a Tokyo hotel, according to market… Read More>>
Manulife-Kenedix JV Buys 9 Japan Multi-Family Assets for $160M
A joint venture of Canada’s Manulife Investment Management and Tokyo-based Kenedix has acquired a nine-asset multi-family portfolio in Japan for JPY 23 billion ($160 million).
Located in the Greater Tokyo and Osaka areas, the properties have an average age of… Read More>>
Asia Real Estate People in the News 2024-06-10
Fresh China leadership for one of North America’s best-known fund managers leads this week’s roundup of personnel moves from Asia’s real estate industry as Bain Capital introduces a new head of its mainland real estate and special situations business. Singapore’s… Read More>>
ARA Veteran Moses Song Aims for More Value-Add Deals in JV with Japan’s Kenedix, SMFL
With ARA Asset Management’s private funds division soon to be carved out from ESR into an independent company, the head of the new venture aims to pursue a familiar playbook focused on value-add opportunities in office, retail and hospitality in… Read More>>
ESR Selling ARA Private Fund Business for $270M to Amp Up New Economy Focus
Two years after completing its buyout of ARA Asset Management, ESR is selling the Singapore-based company’s private fund management business as it hones its focus on assets linked to Asia Pacific’s fastest growing sectors.
The Hong Kong-listed real estate giant… Read More>>
Kenedix Merging Three Japanese REITs into Single $8.2B Trust
Japanese fund manager Kenedix intends to merge three of its sponsored J-REITs into a single trust with assets under management totalling JPY 1.15 trillion ($8.2 billion).
Under the plan, Kenedix Residential Next Investment Corporation and Kenedix Retail REIT Corporation will… Read More>>
ARA-Kenedix JV Buys Iron Mountain Warehouse in Singapore’s Jurong West For $35M
After starting March with an investment in Singapore’s Lazada One office building, ESR’s ARA Asset Management teamed up with its Japanese joint venture, Kenedix, for a second time last month to acquire an industrial building in the city-state’s Jurong West… Read More>>
ARA Sells Half Stake in Singapore’s Lazada One to Sumitomo Mitsui-Backed Fund for $269M
ESR’s ARA Asset Management has divested its half stake in a Singapore office project to a fund backed by Japanese giant Sumitomo Mitsui Finance and Leasing Company (SMFL) for S$362.4 million ($269.3 million), Mingtiandi has learned.
A fund managed by… Read More>>