SINGAPORE: Keppel Land China Limited has entered into a share sale and purchase agreement to acquire 100% equity interest of several wholly-owned subsidiaries of The9 Limited in China which collectively own Zhangjiang Micro-electronic Port Block #3, a completed commercial property in Pudong District, Shanghai, for an aggregate sum of RMB493 million. The transaction is expected…
Category: Ratings
Corporate Ratings, Insurance Ratings, S&P, Moody’s, Fitch
ADO Properties enters agreement to sell a residential portfolio in Berlin
BERLIN: ADO Properties announced the entering into of a share purchase agreement with Gewobag Wohnungsbau Aktiengesellschaft Berlin for the sale of 100% of the shares of certain subsidiaries owning 23 properties consisting in aggregate of approximately 5,800 residential apartment units. The sale price for the shares is EUR 920 million, less approximately EUR 340 million…
Springfield Properties enters into partnership with Sigma to deliver private rented homes
LONDON: Springfield Properties, a leading house builder in Scotland delivering private and affordable housing, has entered into a Collaboration Agreement with Sigma PRS Management Ltd, to deliver private rented homes in Scotland. This represents Springfield’s first partnership for the private rented sector (PRS) and is targeting the release of hundreds of homes over the coming…
Unite disposes of two assets for £100 million to USAF
LONDON: The Unite Group, one of the UK’s leading owners, developers and managers of student accommodation, announced the disposal of two assets for £100 million to the Unite UK Student Accommodation Fund (USAF), representing a net initial yield of 5.5%. The assets are located in Birmingham and Newcastle and comprise a total of 1,155 beds….
Tritax EuroBox acquires two new big box logistics assets in Germany for €60.3 million
FRANKFURT: Tritax EuroBox plc, which invests in Continental European logistics real estate, has acquired two prime, modern logistics facilities in the GVZ Freight Village of Bremen in Germany for a total consideration of €60.3 million, reflecting a net initial yield of 4.8%. Purpose-built in 2013 and 2019 respectively, these two high specification facilities have a…
Cedar Woods contracts to acquire prime infill site in Hamersley, Perth
SYDNEY: Cedar Woods Properties Limited has signed a conditional contract to acquire 179 Erindale Rd, Hamersley, Western Australia from Broadcast Australia for $21.2 million, plus GST. The acquisition remains conditional on the vendor obtaining town planning and environmental approvals, de-risking these steps for the Company. The 12.4 ha residential site is located only 14kms from…
Standard & Poor’s BBB rating for SATO Corporation
HELSINKI: SATO Corporation has obtained a BBB rating with a stable outlook from rater Standard & Poor’s. At the same, SATO has decided to end the cooperation with its previous rater Moody’s. SATO is one of Finland’s leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer…
Inzone Garland Qishi Culture Hotel officially commences operations
SINGAPORE: Imperium Crown Limited announced that the hotel at the Wonder Stone Park has successfully held its opening ceremony on 17 September 2019 to officially commence operations. Operating under the “Inzone” brand, the hotel is managed by the Inzone Hotels & Resorts Group. Inzone Hotels & Resorts Group currently manages over 300 hotels and is…
Straits Trading appoints Eric Teng as CEO of Straits Developments
SINGAPORE: The Straits Trading Company Limited announced the appointment of Eric Tengas CEO of Straits Developments Private Limited, a wholly-owned subsidiary of the Group. His appointment will be effective from October 01, 2019. As CEO of Straits Developments, Teng will be responsible for the property business of the Group except for those owned, operated or…
NewRiver acquires Poole Retail Park in JV with BRAVO for £44.7 million
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III has exchanged contracts to acquire Poole Retail Park in Dorset, from LS Poole Retail Limited for total consideration of £44.7 million, reflecting a net initial yield of 8.0%. NewRiver will hold a 10% interest in the asset (NRR share: £4.5 million) and NewRiver…
Springfield expands to Inverness with key land acquisition
LONDON: Springfield Properties, a leading housebuilder in Scotland offering private and affordable housing, announced its first land acquisition in Inverness as the Group continues its geographic expansion into the Highlands. With this purchase at Easterfield Farm in Inverness, along with other land recently secured in surrounding areas, Springfield is establishing a strong foothold in the…
CapitaLand receives over 900,000 shoppers to Raffles City Chongqing
SINGAPORE: CapitaLand has added another feat to its track record of creating iconic integrated developments with the opening of Raffles City Chongqingin China. The largest mall to open in Chongqing this year and the latest must-visit destination in the bustling metropolis, Raffles City Chongqing registered a strong shopper traffic ofover900,000duringits opening weekend. Raffles City Chongqing…