ESR is negotiating the sale of a slice of a Shanghai office tower for around RMB 1.6 billion ($231 million) as the investment manager continues to dispose of assets acquired through its $5.2 billion buyout of Singapore’s ARA Asset Management… Read More>>
CalPERS-Backed Fund Sells Office Tower Near Shanghai’s Xintiandi at 43% Off
One of Shanghai’s most-traded office buildings has changed hands again, with a fund managed by industrial specialist ESR parting with the prime office tower next to the Xintiandi entertainment complex at a discount of more than 40 percent from its… Read More>>
Fosun Sells Half-Stake in Shanghai’s Andaz Xintiandi Hotel for $5M
There have been numerous reports of declining property values in China, but a transaction late last month may provide the first example of a near half-stake in a Shanghai five-star hotel trading for the cost of an upscale condo.
Metro… Read More>>
Shanghai Office Rents Fall for 14th Straight Quarter as New Buildings Flood Market
Grade A office rents in Shanghai declined at the steepest rate since 2022 in the July to September period as tenants stayed cautious at the same time that developers introduced new projects to an overcrowded market.
Nearly 4.2 million square… Read More>>
Goldman Sachs, PAG, Gaw in Talks to Sell Shanghai Property for Less Than Mortgage Balance
Investors including Gaw Capital Partners, PAG and the merchant banking arm of Goldman Sachs are set to dispose of a commercial complex on Shanghai’s famed West Nanjing Road for less than the loan balance owed on the property as the… Read More>>
CalPERS-Backed Fund Marketing Office Tower Near Shanghai’s Xintiandi for $316M
One of Shanghai’s most traded office buildings is on the market for 20 percent below its 2015 acquisition price as landlords in China’s commercial capital continue to face challenges from ebbing business confidence and falling rents.
A fund managed by… Read More>>
Shanghai Office Rents Slide For 12th Straight Quarter
With nearly a quarter of the city’s space standing empty, grade A office rents in Shanghai fell for a 12th straight quarter in the first three months of this year, as international firms pull back on leasing and local demand… Read More>>
Standard Chartered Selling Former BlackRock Shanghai Complex at 42% Off
Standard Chartered has sold a pair of office blocks in Shanghai’s Putuo district at a steep discount after repossessing the properties from US asset management giant BlackRock late last year, according to people familiar with the transaction who spoke to… Read More>>
Hongkong Land Appoints Stuart Grant to Lead $8B Shanghai Commercial Project
Hongkong Land has appointed board member Stuart Grant as executive director and chief executive of the developer’s $8 billion Westbund Central commercial project in Shanghai.
A longtime Blackstone executive who spent his early career at Hongkong Land parent Jardine Matheson,… Read More>>
ADIA, Hines Sell Shanghai Trophy Tower to Mainland Insurer-Backed Fund for Reported $1.5B
Houston-based developer Hines and the Abu Dhabi Investment Authority (ADIA) have divested a 60-storey skyscraper in downtown Shanghai to a fund backed by China Post Insurance in a deal said to value the project at as much as RMB 10.9… Read More>>
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