By Mars Woo
The acquisition comes less than three months after CapitaLand announced its purchase of a 32-hectare prime mixed-used site in Chongqing for Rmb5.7 billion ($867 million).
The properties to be sold include seven GLP wholly-owned properties and one owned by GLP Japan Development Venture II.
Megawide said, it has bought the entire 344.5 million shares of WM Property from various stockholders through a straight sale and in cash.
A new investment vehicle set up by the companies will initially invest in a seed portfolio of six logistics facilities with an aggregate gross floor area of 270,000 sqm.
Tycoon Victor Li made his first land purchase in Hong Kong since taking the reins of CK Asset Holdings Ltd. from his billionaire father Li Ka-shing, splashing out on a development site above a subway station.
PE funding for residential real estate is down 34% year-on-year (y-o-y) in the quarter ending June 2018.
Revolution Precrafted will build 50 luxury curated country villas for the first phase.
The fund will invest in middle-market real estate loans in Australia and New Zealand. Challenger Investment Partners will source and manage investments on behalf of the fund.
The companies intend to invest in an initial A$1 billion ($739.40 million) portfolio of Australian retail properties currently owned by Vicinity.
The acquisition brings Ascendas Reit’s portfolio to 99 properties in Singapore and 34 properties in Australia.