Brookfield India REIT is buying Ecoworld in Bengaluru from its sponsor (Image: Brookfield)
Brookfield’s latest India deal leads today’s looks at real estate investment from around the region, with the asset manager’s India REIT adding a Bengaluru business park to its portfolio. Also making the list is a fund closing for CapitaLand and a warning from UOB on real estate loans.
Brookfield India REIT to Buy Bengaluru Business Park From Sponsor for $1.5B
Brookfield India Real Estate Trust, a public listed entity sponsored by an affiliate of global investment giant Brookfield, has signed a binding agreement to acquire a 100 percent interest in Ecoworld for INR 13,125 crore (around $1.5 billion), the company said in a statement.
Ecoworld, currently owned by the group firm Brookfield Asset Management, is a 7.7 million square foot office campus spread across 48 acres on Outer Ring Road (ORR), Bengaluru. The asset is leased to global capability centers including that of Honeywell, Morgan Stanley, State Street, Standard Chartered, Shell, KPMG, Deloitte, Cadence, among others. Read more>>
CapitaLand Closes on $650M for Second Asia Value-Add Lodging Fund
CapitaLand Investment Limited has achieved final close for its second value-add lodging private fund, securing over $650 million in total equity commitments and co-investments across the fund and associated vehicles, according to an announcement this week.
The fundraising for CapitaLand Ascott Residence Asia Fund II (CLARA II) well exceeded the fund’s $600 million equity target with support from institutional investors, pension funds and financial institutions from Asia, Europe and North America, CapitaLand said. Read more>>
UOB Sets Aside $470M on Commercial Real Estate Risks in US, Greater China
United Overseas Bank Ltd. shares slumped after the lender set aside its biggest-ever provision of S$615 million ($470 million) citing commercial real estate risks in the US and Greater China.
The problematic areas are in the two markets where the bank is working through a “few accounts” that make up a small portion of its total loans, Chief Financial Officer Leong Yung Chee said at a results briefing. Read more>>
Country Garden Wins Approval for Debt Restructuring
The creditors of Country Garden Holdings have approved the troubled Chinese builder’s offshore debt restructuring plan.
The approval rate in yesterday’s vote was 83.7 percent among syndicate group creditors and 96 percent among other creditors, both exceeding the minimum requirement of 75 percent, the Foshan-based company announced yesterday. The High Court of Hong Kong will hold a hearing on the scheme on Dec. 4. Read more>>
China Vanke Debt Struggles Reignite China Housing Doubts
China seems to find solutions to the world’s thorniest economic problems. Its exports juggernaut is marching on despite President Donald Trump’s tariffs. The domestic AI industry is booming without Nvidia Corp’s high-end chips.
But once in a while, a dormant zombie comes back to haunt it, serving as a reminder to global investors that the government hasn’t dealt with its most pressing economic issues even as the stock market rallies. Read more>>
MTR Project in Hong Kong’s Tuen Mun Draws 6 Bids
MTR Corporation received six bids for its Tuen Mun Area 16 Phase 1 residential development project, with the consortium including leading Hong Kong developers such as CK Asset (1113) and Sun Hung Kai Properties.
Others include K. Wah International, China Overseas Land & Investment, and Wheelock Properties. Sino Land also joined with Kerry Properties and Great Eagle Holdings in a consortium bid. Read more>>
Lendlease Global REIT Raises $215M to Pay for Mall Investment
The manager of Lendlease Global Commercial Real Estate Investment Trust on Thursday (Nov 6) announced the completion of a private placement of around S$280 million ($215 million), up from the initial S$270 million.
It was about three times covered with strong participation from a quality mix of new and existing unitholders, long-only funds, real estate specialists, private wealth and multi-strategy investors. Read more>>
Thailand’s Amata to Invest $180M in HCMC Industrial Park
Thai industrial developer Amata plans to develop a new industrial park in Ho Chi Minh City, Vietnam’s southern economic hub, with a minimum investment of $180 million, said an executive.
The plan was revealed by Somhatai Panichewa, CEO of Amata VN, during a meeting on Monday with Nguyen Van Duoc, Chairman of the HCMC People’s Committee. The talks featured Thai Ambassador to Vietnam Urawadee Sriphiromya. Read more>>
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