Lendlease reported a loss of A$318 million ($225 million) for the six months to the end of December, as the Australian builder continues to execute on a multi-year overhaul aimed at scaling back overseas development and focusing on domestic operations.
Melbourne Market Shows Signs of Life as Spotlight Group Buys Toorak Complex for $131M
Melbourne’s beleaguered commercial property market is showing signs of recovery, with the Victoria capital recording what is said to be its biggest office deal so far this year with a reported A$185 million ($131 million) sale of a property in… Read More>>
Thailand’s Minor Plans Singapore Hotel REIT and More APAC Real Estate Headlines
A Singapore REIT plan for Thailand’s biggest hotel owner leads today’s look at real estate news from around the region as Bangkok-based Minor International plots a hospitality IPO. Also making our list today are Lendlease delaying a Melbourne office project… Read More>>
Dash Living Picking Up Former Hong Kong Hotel From Gale Well at 70% Off 2019 Price
Hong Kong’s plummeting property values have provided Dash Living with an economical opportunity to expand its portfolio in the city, as the Rava Partners-backed rental residential operator picks up a Wan Chai district property at 70 percent off the 2019… Read More>>
UOB, OUE REIT Prep $1.9B Sale Campaign for Singapore’s One Raffles Place
Another downtown landmark is set to test Singapore’s rebounding commercial property market, as UOB Group and OUE REIT quietly prepare to put One Raffles Place up for sale for as much as S$2.4 billion ($1.9 billion), market sources confirmed to… Read More>>
Macquarie Leads Deal to Buy Aussie Logistics Giant Qube for $8.3B
A consortium led by Macquarie Asset Management has agreed to buy ASX-listed Qube Holdings in a deal valuing the Sydney-based logistics operator at A$11.7 billion ($8.3 billion).
The consortium’s members include Australian pension fund UniSuper, which already holds a 15.07… Read More>>
Australia’s Local Residential Eyes Core-Plus Ventures as BTR Portfolio Hits 4,000 Homes
Melbourne-based build-to-rent operator Local:Residential took its portfolio of rental homes to over 4,000 units earlier this month with a co-founder of the Macquarie Asset Management-backed operator pointing to the scale of its holdings, and the rapid development of Australia’s multi-family… Read More>>
ESR Sells Stakes in Yokohama Warehouse to BNPP AM Alts, PGGM
Asian industrial specialist ESR on Monday announced its sale of stakes in a Yokohama warehouse to France’s BNP Paribas Asset Management Alts and Dutch pension investor PGGM.
The newly built ESR Yokohama Sachiura Distribution Centre 3 comprises 165,000 square metres… Read More>>
Brookfield, GIC Seek $2B for National Storage REIT Buy and More APAC Real Estate Headlines
Mini-sheds lead today’s look at real estate news from around the region as Brookfield and GIC are said to be organising nearly $2 billion in financing for their purchase of Australia’s National Storage REIT. Also making headlines are Centennial’s purchase… Read More>>
PGIM Buys Melbourne Site for Data Centre Campus, Plans $850M First Phase
PGIM Real Estate has acquired a site in the industrial heartland west of Melbourne for development of a data centre campus, as the fund manager continues to grow its digital infrastructure footprint in Asia Pacific.
The 20.7 hectare (51.2 acre)… Read More>>
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