Private equity firm Blackstone Group and property developer Panchshil Realty have emerged frontrunners for buying Citibank's old headquarters in Mumbai, India. The Blackstone-Panchshil combine have jointly bid INR186 crore for Citigroup Center.
Real Estate
Rockefeller-backed Rose Rock Group to co-develop residential and hotel project in Vietnam
Rose Rock Group, an alternative investment manager supported by the Rockefeller family, will be developing a residential and hotel project in Vietnam together with Vung Ro Petroleum Co, Bloomberg reported.
REA purchases tenancy service 1Form in Australia for $15M
Melbourne, Australia-based real estate classified service REA Group Ltd bought rental application service 1Form Online Pty Ltd in a deal valued at $15 million as part of its strategy to link its customers with property-related services.
Investors bet on homeless bond for promise of high yields- report
As demand for debt backed by commercial mortgages rise in recent months, yield-hungry investors are ready to make bets on loans packaged to non-traditional properties, the Financial Times reported.
Activist investors seek overhaul of property portfolio of British grocery chain Wm Morrison- report
Activist investors like Elliott Associates are seeking for an overhaul of the property portfolio of Wm Morrison, the fourth largest supermarket chain in Britain, the Financial Times reported.
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Irving, Texas-based luxury hotel company Omni Hotels & Resorts has bought the iconic Montelucia Resort & Spa in Scottsdale, Arizona for an undisclosed amount, to be renamed as the Omni Scottsdale Resort & Spa at Montelucia.
The OUE Commercial Trust, a spinoff from Singapore-based OUE Ltd, plans to give a yield of 6.8% for its $315 million IPO, according to sources interviewed by Bloomberg.
California, US-based home buying to-do service Closing Time raised $2.7 million in a funding round led by Accel Partners and former Yahoo executives, for the expansion of its service and workforce.
San Francisco-based Wells Fargo & Co has given the task of originating mortgages for the largest home lender in the US to 400 underwriters, Bloomberg reported.
City Office REIT, controlled by Canadian private equity firm Second City Capital Partners, filed with US Securities and Exchange Commission to raise up to $115 million in a listing of its common stock on the New York Stock Exchange.
China's state-owned Greenland Holding Group will invest £1.2 billion ($2 billion) on two property projects located in Wandsworth and Canary Wharf in London. The real estate developer is also looking to enter Canada, France and Singapore this year.
The biggest bank in Spain, Banco Santander SA, sold its real estate arm to US-based private equity group Apollo Global Management in a deal valued at €664 million ($903 million).
A report by brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc released today indicated an influx of home property sales in the Manhattan, New York area in anticipation of increasing prices and interest rates.
Keppel Telecommunications & Transportation Ltd is planning to list its real estate investment trust or REIT, Bloomberg reported. Meanwhile, The Wall Street Journal reported that the Singapore-listed company intends to raise more than $400 million for its data center businesses.
