trending Market Intelligence /marketintelligence/en/news-insights/trending/16qmzjec4j4uxw-djipp9q2 content esgSubNav
In This List

NextDC ups stake in APDC to 97%; Fosun rebuts report on US$1.6B sale of NY tower

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


NextDC ups stake in APDC to 97%; Fosun rebuts report on US$1.6B sale of NY tower

* NextDC Ltd. said it plans to proceed to compulsory acquisition of the outstanding securities of Asia Pacific Data Centre after it secured a relevant interest in 97.0% of the stapled securities of the data center owner. Separately, 360 Capital Group said it sold its entire holding in Asia Pacific Data Centre through the takeover offer by NextDC for A$154.8 million.

* Chinese conglomerate Fosun International Ltd. denied media reports that its real estate arm is looking to sell the 60-story tower at 28 Liberty St. in Manhattan, N.Y., for US$1.6 billion. A company representative said it is considering retaining a majority ownership instead of selling the property, which last traded for US$725 million in 2013.

Hong Kong and China

* A Hopson Development Holdings Ltd. unit will purchase the 49th floor of The Center, an office property in Hong Kong's Central district, for up to about HK$1.17 billion.

* Longfor Group Holdings Ltd. and Shui On Land Ltd. logged respective aggregate contracted sales of about 149.08 billion yuan and 18.60 billion yuan for the first nine months of 2018. The figures represent year-on-year increases of 16.3% and 60%, respectively.

For the month of September, Longfor Group and Shui On booked respective contracted property sales of 17.42 billion yuan and 778 million yuan, spanning 1,065,000 square meters and 13,000 square meters.

* Real estate developer China Vanke Co. Ltd. is offering compensation to buyers amounting to 200,000 yuan at its Shoukai-Vanke Bailujun Project in Xiamen, China, on account of design adjustments, the South China Morning Post reported. The offer follows a 40% slash to the selling prices of units at the project.

* China's HNA Group Co. Ltd. has reportedly been looking for buyers for four land parcels in Hainan, The Paper reported. The land parcels totaled a gross floor area of 94,000 square meters, and a total valuation of 2.14 billion yuan was given for three of the parcels.

* The Shanghai International Port Group plans to sell a commercial real estate project in Shanghai through the divestment of its subsidiary via the Shanghai United Assets and Equity Exchange. The project is listed for 12.79 billion yuan and is expected to boost the revenue of the group by 1.17 billion yuan.

Australia

* Moelis Australia Ltd., owner of pub and hotel operator Redcape Hotel Group Pty Ltd., is preparing to run a roadshow from Oct. 17 to Oct. 26 for the IPO of the latter's shares on the Australian Stock Exchange. Redcape shares will be priced at A$1.13 per security under the offering, reflecting an A$615.2 million market capitalization and A$1.02 billion enterprise value.

* Property payments platform PEXA Ltd.'s board approved plans for an initial public offering at a board meeting, The Australian Financial Review's Street Talk reported. PEXA is eyeing a valuation of between A$1.6 billion and A$2 billion from the listing.

* InterContinental Hotels Group PLC will open a 252-room hotel in July 2020 under the Voco brand at the A$500 million 380 Melbourne skyscraper being developed by the Brady Group at 380 Lonsdale St., the AFR reported. According to the report, the Voco Melbourne Central will occupy space at the project, which is planned to have two towers.

* Investment manager Elanor Investors Group's Elanor Metro and Prime Regional Hotel Fund closed on the A$103.9 million purchase of a portfolio of six Australian hotels.

Singapore

* After failing to attract buyer interest in 2016, The Golden Wall Centre at 89 Short St. in Singapore's Rochor area is again for sale with a S$260 million price.

Japan

* Daiwa House Industry Co. Ltd. said its 17-story D Tower Toyosu mixed-use complex under construction in Tokyo's Toyosu will be completed by July 2019 as a new landmark in the area. The project includes a 330-room JAL City Tokyo Toyosu hotel.

Other real estate news

* Chinese Estates Holdings Ltd. is inviting bids for the redevelopment of River Court, Goldman Sachs Group Inc.'s 430,000-square-foot London headquarters. The bank is expected to relocate next year, leaving a number of unoccupied office buildings around London’s Fleet Street in its wake. Chinese Estates purchased the property for £280 million in 2011.

Now Featured

US REIT capital markets activity picks up in second half of September

US equity REITs own 292 properties in hurricane-stricken Florida Panhandle

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.