By Kane Wu
The new fund has already made its first investment in Forest Logistics, a logistics operating platform in China for about $300 million.
The proposed 1 million sq ft mall in Mumbai’s Andheri East will be developed by Omkar Realtors and Developers Ltd
The promoters were also looking to sell a part of their stake, taking the total IPO size to around Rs5,000 crore.
The acquisition aligns with KWAP’s aspirations to increase its international property exposure, the pension fund said.
One Bangkok is a joint venture between Charoen’s TCC Assets (Thailand) Co. Ltd. and the Thai unit of Singapore affiliate Frasers Property Ltd.
The sale will see CapitaLand get a net gain of about S$99.2 million ($73 million) with the deal based on Westgate’s total market value at S$1.13 billion ($829 million).
The deals will raise its assets under management to 10 billion baht, making it the country’s largest hotel REIT so far.
The sharp drop in the pound after the Brexit vote lured foreign investors into the British real-estate market.
The additional investment will increase CPPIB and Goodman’s total equity commitment to $5 billion in the joint venture.
GIC has bought over 40% stake in Provenance Land and the size of the transaction is estimated to be around Rs 1,000 crore.