…billion. With the offer having begun on 6 June, and ending on 12 June, the Warburg Pincus-backed warehouse developer and fund manager had planned to have its shares start trading on the Hong Kong stock exchange on 19 June. Instead, the company announced late on 13 June that it would postpone the offering due to turmoil in the city. ESR had originally filed for its IPO in March of this year, and began marketing the offering earlier this month. Mark…
Search Results for: WARBURG PINCUS
ESR REIT Launches S$270M SG Expansion, New Equity Sale Days After IPO Scrubbed
…ir of new equity sales. The expansion barrage came less than a month after Warburg Pincus-backed ESR REIT had agreed to pay S$62.2 million to acquire control of competing industrial platform Sabana REIT as the private equity firm continues to pursue a strategy of consolidating its position in Singapore’s fragmented industrial property sector. JV Set Up to Acquire Jurong Distribution Centre ESR REIT’s asset acquisition involves the REIT’s manager t…
Sumitomo Buying India’s Most Expensive Land Parcel for $323M
…India’s biggest office property deals this year. Just over a month ago, a Warburg Pincus joint venture committed $400 million to build a retail platform in India, with an overall corpus including debt of $1 billion for the purpose of building shopping malls across tier 1, 2 and 3 cities. The initial public offering in March of the Blackstone-Embassy REIT — Embassy Office Parks Real Estate Investment Trust (Embassy REIT) – was subscribed 2.5 times…
ARA’s Suntec REIT Agrees to Buy Sydney Office Project for A$297M
…ffice property in the city. ARA Trust Management, which is a subsidiary of Warburg Pincus-backed ARA Asset Management, said that the investment was an opportunity to increase the trust’s returns to investors as Sydney’s tech and media tenants continue to target the Pyrmont area. Moving in Early at Downtown’s Fringe Suntec REIT is purchasing the project, which is scheduled to come on line in the first quarter of 2020, through a put and call option…
Hong Kong’s Toy King Buys Up Remaining Half of Sydney Tower for A$300M
…acement which excluded John Lim’s ARA from the share sale, and diluted the Warburg Pincus-backed fund manager’s previous 20.09 percent stake in the company. ARA had boosted its then 19.5 percent stake in Cromwell to 20.09 percent stake in early May with media reports indicating that ARA might soon launch a takeover attempt for its Aussie affiliate, after Cromwell failed in an attempt to buy London’s RDI REIT. Cromwell has publicly denied any discu…
Tencent-Backed Vipshop Buys Five China Outlet Malls for RMB 2.9B
…to purchase a 29.25 percent stake in Red Star Macalline Holding Group from Warburg Pincus, and followed up later that month by purchasing RMB 4.36 billion ($630.6 million) of convertible bonds issued by the privately held holding firm which holds a controlling stake in a chain of 364 home furnishing malls in 199 mainland cities. Number three consumer ecommerce player made its own offline retail acquisition last month when it agreed to buy an 80 pe…
Mirae Named Preferred Buyer for $5.5B Anbang Portfolio and More Asia Real Estate Headlines
…O of Embassy Industrial Parks, the joint venture between Embassy Group and Warburg Pincus has launched his entrepreneurial venture One Industrial Spaces, an integrated organisation for fund, asset and end-to-end development management for the warehousing sector in India. The newly formed firm will focus on tier I and II towns and will deploy capital to unlock prime lands via flexible models of partnerships, JVs and development management options —…
KKR JV Acquires Shanghai Commercial Project Via $1.5B Fund
…ssible,” said a source close to the transaction. Founded in 2015 by former Warburg Pincus executives Qian Wang and Kevin Zhao, who also did a stint at KKR, since May 2017 HiTone Capital has acquired eight real estate assets in core areas of Beijing and Shanghai, and has already exited from four of those investments. Targeting distressed properties for conversion into upmarket mixed-use schemes, the company is said to have at least three more NEO p…
Keppel Buying Office Building in Beijing’s Zhongguancun for RMB 197M
…l in two weeks for the four-year-old private equity firm founded by former Warburg Pincus executives Qian Wang and Kevin Zhao. Just last week, HiTone teamed up with US private equity giant KKR to jointly acquire a six-storey property in Shanghai’s Huangpu district for an undisclosed amount, with the goal of converting that property into a “Neo” branded mixed-use development featuring a boutique hotel, offices, and shops. Targeting distressed prope…
Logistics Developer ESR Names New Group Managing Director
…hs after postponing a Hong Kong IPO expected to raise up to $1.24 billion, Warburg Pincus-backed warehouse developer ESR has made a new hire for its capital markets team in an effort to support the company’s long-term growth. The logistics specialist, which manages one of Asia Pacific’s largest logistics real estate portfolios, has appointed Chang Rui Hua as group managing director of capital markets and investor relations, according to an announc…
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