SC Capital Said to Launch $1B Property Fund


Suchad Chiaranussati, chairman of SC Capital Partners

At the top of today’s news, Singaporean private equity shop SC Capital is said to have launched a $1 billion fund targetting real estate across Asia, as institutional investors move up the risk curve in search of higher yields. Meanwhile, Singapore-listed Yanlord Lard shelled out $1.6 billion for a prime redevelopment site in Shanghai’s Yangpu district, and Beijing’s Zhonghong Zhuoye Group is having a tougher time, as its $4 billion deal to acquire Brookdale Senior Living in the US hits a regulatory snag. Read on for all these stories and more.

Singapore’s SC Capital Launches $1B Fund for Asian Properties

Singapore-based real estate private equity firm SC Capital Partners has launched a $1 billion real estate fund, Real Estate Capital Asia Partners V (RECAP V), and expects to mark the first close in about two months, an executive aware of the development told DEALSTREETASIA.

The firm with investments throughout Asia is looking to expand its portfolio in the Asia Pacific – Japan, Australia, Greater China, Hong Kong, South Korea and some countries in Southeast Asia – at a time when idle capital in the region is hungry for investment opportunities, even riskier ones. Read more>>

Yanlord Picks Up Prime Shanghai Site for $1.6B

Chinese high-end property developer Yanlord Land Group Limited said that it has secured the rights to a prime redevelopment site in Shanghai for about RMB 10.52 billion.

Nestled within Puxi, the historic centre of Shanghai, the site lies four kilometres from Shanghai’s financial district Lujiazui and spans 183,187 square metres in gross floor area in Yangpu District. It is also near the adjacent metro stations of the No 8 and No 12 metro lines and will enjoy enhanced connectivity when the station for metro line No 18, currently under construction, is completed. Read more>>

Beijing Firm Faces Loan Snag in $4B Brookdale Buyout

The buyout of one of the largest home health care providers in the US by a Beijing-based real estate and leisure firm has reportedly been put on hold, according to the Financial Times. Brentwood, Tennessee-based senior living provider Brookdale Senior Living (NYSE: BKD) could be sold for as much as $4 billion, although analysts have long speculated on the total value of the company’s operations and massive real estate portfolio.

Now, Zhonghong Zhuoye Group Co Ltd is having trouble securing financing for the acquisition of Brookdale, FT reported early Monday, citing unnamed sources. Zhonghong secured a Chinese bank for onshore and offshore loans, the two sources revealed. The offshore loan was approved by regulators, but the onshore loan has been held up. Read more>>

HNA Struggles Endanger SG REIT Plans

HNA Group’s partner in an overseas property trust is exploring ways to potentially scale back its ties to the embattled Chinese conglomerate, people with knowledge of the matter said.

AEP Investment Management is weighing options for reducing HNA Group’s involvement in the planned Singapore initial public offering of HNA Commercial Reit, which was going to be backed by about S$1 billion of properties from the two partners, according to the people. Read more>>

CapitaLand’s Ascott to Invest S$170M in Co-Living Project

CapitaLand’s wholly owned serviced residence business unit, The Ascott Ltd, is investing S$170.3 million, through its serviced residence global fund with Qatar Investment Authority (QIA), in the serviced residence component of the Funan integrated development.

Of the S$170.3 million, the fund is acquiring the land for the serviced residence component from CapitaLand Mall Trust (CMT) for S$90.5 million and developing the Singapore flagship of Ascott’s millennial-focused lyf brand on the site for an estimated S$80 million. Read more>>

Four Seasons To Launch Resort on Korea’s Jeju Island

Landing Jeju Development Co, Ltd, a wholly owned subsidiary of Landing International Development Limited and the developer and operator of Jeju Shinhwa World, and Four Seasons Hotels and Resorts, the world’s leading luxury hospitality company, today jointly announced plans to launch a luxury Four Seasons resort in the heart of Jeju Shinhwa World.

Conveniently located just one hour from Seoul by plane, Jeju Island is home to some of Korea’s most spectacular natural wonders, including multiple UNESCO sites, an expansive network of underground lava caves, thundering waterfalls, lush coastal hiking trails and the highest mountain peak in all of Korea. Read more>>

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