ARA Asset Management Ltd, an Asian real estate fund management firm, said it had agreed to buy Macquarie Real Estate Korea Ltd, the Korean unit of Macquarie Group Ltd.
Real Estate
Fortress Investment Group plans to secure $1.9B for Japan's first infrastructure fund-sources
US-based Fortress Investment Group intends to raise $1.9 billion to form the first infrastructure fund in Japan called Fortress Japan Income Fund, sources told Reuters.
Royal Dutch Shell renews option to buy Pennsylvania land for proposed $2 billion ethylene plant
Oil giant Royal Dutch Shell on Thursday announced that it has renewed an option to buy land in Monaca,Pennsylvania owned by metal-processing company Horsehead Holding Corp. Shell has a $2 billion ethylene plant building proposal for the said site.
Empire State Building investors claim losing $410M in IPO, file lawsuit against New York skyscraper's managers
Empire State Building investors on December 24 filed a class-action lawsuit in a Manhattan state court against the New York skyscraper's managers. The said investors claim they were deprived of $410 million in profit in Empire State Building's initial public offering.
Minnesota developer buys Hotel Monroe in $7.85M deal
Minnesota-based developer CSM Corp bought the historical building in downtown Phoenix, Hotel Monroe in a deal valued at $7.85 million, according to a commercial real estate research firm.
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New York, US-based multinational private equity firm Blackstone Group LP acquired a minority stake in Edens shopping center in a deal valued at $718 million.
Hamilton, Bermuda-based global commercial property firm Brookfield Property Partners LP increased its offer to buy New York, US-based firm Brookfield Office Properties Inc by $1 per share after a bid evaluation.
Australia-based funds management group Alceon has acquired two shopping centers from Mirvac Group in a deal valued at $100 million as part of the listed group's non-core disposal program.
New York, US-based firm Floored Inc has raised $5.3 million in a Series A funding round led by RRE Ventures for its technology that allows real estate professionals to create a 3D model of properties.
John Hancock Financial, the US arm of Canadian life insurer Manulife Financial Corp. has bought three office properties in New York, Chiacgo and Boston collectively worth $618 million.
Fosun International, controlled by Chinese tycoon Guo Guangchang, is seeking to acquire apartments, hotels and offices in New York as well as in other US cities after its purchase of lower Manhattan landmark 1 Chase Manhattan Plaza.
A 50-50 joint venture to develop a CNY 2.58 billion or $425 million land in Hangzhou was formed between Greentown China Holdings and Wharf Holdings.
Data published by the Council for Mortgage Lenders and the British Bankers' Association indicate a housing boom in London as compared to average house prices in all of Britain, according to The Financial Times.
The poor performance of Pact Group Holdings and GDI Property Group Pty on the Australian stock exchange dampens the prospects of firms expected to go public next year, Reuters reported.
