By Agustinus Beo Da Costa
The nation’s Corruption Eradication Commission conducted a search on 10 locations on Wednesday including Lippo deputy chairman James Riady’s home and the house of a senior executive who was arrested.
Swire agreed to sell its entire stakes in the two office towers in June, adding to a spate of deals in the world’s priciest office market.
The merger has created Singapore’s fourth-largest industrial real estate investment trust (REIT) with combined assets worth over $2.2 billion.
Allianz intends to take a 35% stake in the close-ended fund that targets value-add commercial real estate opportunities in China and Hong Kong.
The properties are being launched in partnership with two private investors, who have “invested significantly” in Caper Co-Living.
OUE Lippo Healthcare will acquire a 40% stake in Bowsprit and 10.63% of First REIT for a total of approximately S$142 million ($104 million).
The bank is seeking possession of the property, which Mallya — an Indian tycoon who’s battling extradition in a separate case — used as a family home.
This is KKR’s third realty investment in South Korea and is being funded from its $9.3-billion Asian Fund III.
Xander will finance the development of the Hyderabad office project over the next few years and, once it is completed, will acquire the asset. It is a “develop-to-core” strategy, where the investor funds a development project and stays on until it becomes a rent-yielding, stabilized asset.
Since January, HNA has sold or agreed to sell over $20 billion worth of assets, including real estate in Sydney, New York and Hong Kong.