ESR Buys into Aussie Property Fund Manager

Property Link Shed

ESR has been buying into Aussie managers of industrial property funds

Warehouses lead the region’s real estate news again today as logistics developer e-Shang Redwood appears to be making a long-awaited expansion into the Aussie market. The Warburg Pincus-backed shed group has now bought into two industrial-focused Australian property groups since the beginning of this month. Meanwhile, collective sale fever continues to grip Singapore, and GLP finally gets stock exchange approval for its mainland-led buyout. Read on for all the details on these stories and more.

ESR Buys Stake in Second Aussie Fund Manager in One Week

Warburg Pincus-backed e-Shang Redwood Group (ESR) is buying up to 14.9 percent of Australian property fund manager Centuria in what is said to be a move to obtain a strategic position in the company.

The Asian warehouse developer acquired the shares at A$1.48 each after it had bought up a 20 percent stake in Sydney-based real estate investment firm Propertylink last week. Read more>>

SG Housing Estate Aims for $986M in Collective Sale

Former HUDC estate Ivory Heights in Jurong East has taken a step towards an en-bloc sale with a vote in favour of the move at an extraordinary general meeting.

The collective sale committee is eyeing a reserve price of roughly $1.34 billion, marketing agent SLP International Property Consultants said on Monday (Oct 9). It is now working to gather the required support of 80 per cent of home owners in the 654-apartment estate. Read more>>

GLP Buyers Get Approval for $12B Privatisation

Global Logistic Properties (GLP), which was bought by a Chinese consortium for S$16 billion, said on Monday it received SGX approval to delist the company by April 14, 2018.

The offeror is Nesta Investment Holdings, which is owned by a Chinese consortium comprising Hopu, Hillhouse Capital, SMG, Bank of China Group Investment and Vanke Group. Read more>>

Korean Retailers Target SE Asia After China Hassles

Lotte, Shinsegae and other retailers in Korea have been shifting their focus to Southeast Asia as it has become difficult to conduct business in China amid deteriorating Korea-Sino ties.

The increasing number of middle-class consumers in Vietnam and other countries has also encouraged the retailers to establish a larger presence in the rapidly-growing region. Read more>>

Singapore’s Viva Trust Passes on S$300M Industrial Deal

The managers of Viva Industrial Trust (VIT) declined an offer on Monday (Oct 9) from Ho Lee Group to buy its Ang Mo Kio industrial property for S$300 million. The offer was made as VI-Reit has the right of first refusal on the property if Ho Lee were to sell it.

Ho Lee is prepared to sell the property, having received an offer of S$300 million from an unrelated third party. Read more>>

China’s CIFI Holdings Says 2017 Sales Up 67%

Mainland developer CIFI Holdings announced on Monday that its contracted sales for September 2017 increased approximately 60% year-on-year to RMB 8.01 billion. In the first nine months of the year, the company has now achieved year-on-year contracted sales growth of 67% which brings its 2017 total to RMB 68.92 billion.

In September 2017, the Group’s contracted average sales price was RMB 16,400 per sq.m., with the contracted GFA was approximately 489,000 sq.m. Read more>>

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