Gaw Capital Partners has sold a hotel in California’s Bay Area for a quarter of what it paid to acquire the property eight years ago, as hospitality occupancy and revenue in the tech hub struggle to recover to pre-pandemic levels.
Singapore’s Paragon REIT Selling Its 85% Stake in Aussie Mall for $106M
Paragon REIT has announced plans to sell its entire 85 percent interest in a New South Wales mall for A$163.2 million ($106.4 million), a divestment which pares the Singapore-listed trust’s Australia portfolio down to a single asset.
The deal values… Read More>>
Apollo Opens Seoul Office, Names Jay Hyun Lee Head of Korea
Apollo Global Management is signaling its growth ambitions in South Korea with the opening of a Seoul office and the hiring of Jay Hyun Lee to oversee its operations in the country.
Lee is joining the New York-based alternative investment… Read More>>
CapitaLand Investment Sets $650M Target for New Australia Funds as China Outlook Fades
CapitaLand Investment is committing up to A$1 billion ($650 million) to increase its funds under management in Australia, as the Singaporean giant continues to sketch out a strategic shift away from its loss-making real estate bets in China.
SGX-listed CapitaLand… Read More>>
Frasers Teams With Sekisui House to Add 348 Luxury Homes on Singapore Riverfront
Six months after confirming its sale of a riverfront apartment complex near Singapore’s Robertson Quay, Frasers Property on Monday announced a retail-residential project to add 348 luxury homes in the area.
Frasers Property and Japanese builder Sekisui House will jointly… Read More>>
KKR Tops Bain Bid by Narrowest of Margins in Second Tender Offer for Fuji Soft
US private equity giant KKR on Friday announced an increase in its tender offer price for Japan’s Fuji Soft, narrowly eclipsing Bain Capital’s competing bid for the Tokyo-listed systems developer.
KKR expects to begin the second stage of its two-stage… Read More>>
Sale of Kowloon Office Block Faces Hurdles as $385M China Mobile Offer Reported
China Mobile is reportedly in talks to acquire the former Hong Kong headquarters building of defaulted mainland property firm Cheung Kei Group, after the grade A office asset lost nearly two thirds of its value over the past two years.
Daiwa House, Toll Brothers Announce US Project and More Asia Real Estate Headlines
Japan’s Daiwa House hooks up with US-based Toll Brothers on a luxury residential project near New York City, with that joint venture leading today’s headline roundup. Also making the list, China’s Country Garden submits a revised restructuring plan to creditors… Read More>>
Hongkong Land Reports Q3 Profit Jump on China Project Completions
Getting homes into the hands of mainland buyers helped boost Hongkong Land’s bottom line in the third quarter, with the blue chip developer reporting improved underlying profit for the period thanks to handing over housing completed at its residential and… Read More>>
Singapore’s GIC Sells Back Half-Stake in UK Mall for 55% Off Buy Price
GIC has sold its 50 percent interest in Westquay for £135 million ($174 million), or nearly 55 percent less than what the Singapore sovereign fund paid for the half-stake in the southern England mall more than seven years ago.
The… Read More>>
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