Roundup: Frasers Selling German Warehouses to FLCT

Singapore’s Frasers Property is selling a set of German sheds to its SGX-listed REIT, with that story leading Mingtiandi’s headline roundup today. Also in the news, China Vanke is said to be seeking loans of up to $11.1 billion and Hong Kong’s Wheelock is slashing home prices to lure buyers to a new project.

Frasers Selling German Logistics Assets to FLCT for $141M

Frasers Logistics and Commercial Trust is acquiring an 89.9 percent interest in four logistics assets in Germany from its sponsor, SGX-listed Frasers Property.

On Friday, FLCT said the agreed property purchase price of €129.5 million ($141 million) represents a discount of 5.3 percent to the assets’ value as appraised by Colliers, and a 1.1 percent discount to the value as appraised by CBRE. Read more>>

China Vanke Said Seeking Up to $11.1B in Syndicated Loans

China Vanke is seeking to raise as much as RMB 80 billion ($11.1 billion) in syndicated loans from 12 banks to help the cash-strapped developer repay maturing bonds, according to a market rumour.

The banks include large state-owned lenders such as China Construction Bank and six joint-stock banks like China Merchants Bank, China Citic Bank and Ping An Bank, according to the information circulating Tuesday on Chinese social media. Read more>>

Wheelock Sells Hong Kong Homes at Discount to Lure Buyers

Hong Kong developer Wheelock Properties is selling a new project at a discount as companies race to lure buyers.

Wheelock is marketing Seasons Place, a project in Lohas Park co-developed with MTR Corporation, for an average of HK$14,188 ($1,814) per square foot for the first batch of 130 units, according to the company. The price is the lowest in the area for first-batch sales since mid-2019, said Sammy Po, CEO of the home division at Midland Realty. Read more>>

Actis Said to Raise $800M in New Infra Fund’s First Close

Actis, the private equity firm being acquired by General Atlantic, has raised $800 million at the first close of a new emerging-markets-focused infrastructure fund, according to people familiar with the matter.

The London-based firm is aiming for a year-end final closing for Actis Long Life Infrastructure Fund 2, the people said, asking not to be identified discussing confidential information. Actis is aiming for about $1.5 billion for the latest pool, up from the $1.23 billion raised by its predecessor, the people said. Read more>>

Blackstone Says Time to Buy Real Estate as Firm Calls Bottom

Real estate prices have bottomed and there’s a great opportunity to move fast and buy assets at beaten-down prices, according to Blackstone president Jon Gray.

“The perception is so negative and yet the value decline has occurred, so when you get into this bottoming period that’s when you want to move,” Gray told Bloomberg TV in Rome, where he is attending the Bank of America Global Investor Summit conference. Read more>>

Zara Owner Inditex Slashes China Stores in Digital Focus

Zara-owner Inditex more than doubled its pre-tax profits in China last year even as the fashion retailer scaled back its physical presence, closing a fifth of its stores in the country in a sign that its focus on online sales is bearing fruit.

Inditex has been shrinking its store footprint globally over the past few years, seeking to optimise its selling space by focusing on flagship outlets in prime locations and ramping up online sales. Read more>>

Citi Names Veteran Exec as New China Head of Commercial Bank

Citigroup has named an executive who’s been with the banking giant for over two decades to head up its commercial bank business in China, its latest personnel change as it undergoes a global restructuring.

Lin Hai, who joined the US bank as a treasury management associate in 2002, will become the head of Citi Commercial Bank for China, according to a statement Thursday. Read more>>

BlackRock, Man Group Reveal Big Japan Bets Before BOJ Decision

Snap up more Japanese stocks, ratchet up shorts on government debt and keep buying the yen: these are some of the most popular calls from big-name money managers ahead of a central bank meeting that may end the world’s last experiment with negative interest rates.

The stakes are enormous heading into Tuesday’s Bank of Japan decision. The nation’s blue-chip share gauge is towering near its record high, bond yields are climbing and the weak currency is boosting exporters. How liftoff of the policy rate will change that dynamic — and whether the BOJ will rein in other tools deployed across markets — are questions at the top of investors’ minds. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.