By Sarah Yuniarni
The Perennial-led consortium includes Singapore Press Holdings and other undisclosed private investors.
Croesus acquired the property, formerly named Luz Shinsaibashi, in 2013, at a valuation of approximately 9.38 billion yen.
The fund will invest in value-add and transitional office buildings in Asia’s key gateway cities, Singapore, Beijing, Guangzhou, Shanghai, Shenzhen, Osaka and Tokyo.
The pilot REIT programme allows Chinese investors to acquire shares in rent-yielding properties for the first time.
The Goldin asset is said to have enjoyed an increase of HK$4.2 billion in fair value by the end of 2018, from the HK$12.5 billion fair value in 2016.
In January, SoftBank boosted its stake in WeWork by $2 billion but this was billions of dollars below what the co-working space provider had hoped to raise to fund growth.
The portfolio is spread across three UK cities – Southampton, Sheffield and Leeds – and comes with a rental guarantee covering two academic years.
Private equity firms GIC, Ascendas-Singbridge and Xander, are pumping billions of dollars into India’s real estate sector.
Singapore-based Frasers Property holds a 31.15 per cent stake in the REIT via its SGX-listed retail REIT Frasers Centrepoint Trust.
The loan will be used to fund the acquisition of land where ESR Yokohama Distribution Centre, one of the largest logistics parks in the Japan, will be built.