Florence Chong

Asia Pacific Correspondent at IPE Real Assets

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Articles

Australia property manager ISPT acquires Northshore Marketplace mall

1 week ago | realassets.ipe.com | Florence Chong

Australian property manager ISPT has acquired the Northshore Marketplace shopping centre in Northern Queensland from Clarence Property. The asset acquired on behalf of the ISPT Retail Australia Property Trust (IRAPT), allows ISPT to grow its exposure to the key Townsville growth corridor while strengthening its footprint of Woolworths supermarkets within its portfolio, according to the manager.
CBRE IM backs Scape Australia’s core student accommodation fund

1 week ago | realassets.ipe.com | Florence Chong

CBRE Investment Management’s indirect private real estate strategy (CBRE IM Indirect), has committment capital to Scape Australia’s open-ended core purpose-built student accommodation (PBSA) fund. The fund currently has a portfolio of 33 operational PBSA assets with 16,300 beds in four capital cities. The incremental equity would be deployed to grow the PSBA fund through a merger with six Scape Australia developed assets and two development sites valued at A$2bn.
Mitsubishi joins consortium for Philippines clean energy project

1 week ago | realassets.ipe.com | Florence Chong

Mitsubishi Corporation and its subsidiary, Diamond Generating Asia (DGA), have joined a consortium to explore a project aimed at retiring and replacing a 246MW coal-fired power plant in the Philippines with clean energy. In 2022, listed Philippine company ACEN implemented the world’s first market-based Energy Transition Mechanism, under which it divested the 246MW South Luzon Thermal Energy coal plant, and committed to retire it by 2040. The plant will transition to renewable energy technology.
CEFC Mobilises Capital to Decarbonise Ports, Airports

1 week ago | i3-invest.com | Florence Chong

The Federal government’s green bank is channeling capital to drive decarbonisation in some of Australia’s toughest to abate sectors, ports and airports.
Funds Optimistic on Australian Logistics

1 week ago | i3-invest.com | Florence Chong

Although infrastructure investors continue to expand into data centres, institutional investors have been growing their logistics portfolio more broadly beyond this popular asset class subset, Florence Chong writesGlobal logistics giants, such as the Goodman Group and its US counterpart, Prologis, are increasingly expanding into data centres, in some instances repurposing existing logistics facilities in metropolitan locations to capitalise on the AI-driven surge in demand.
Iris Capital sets record with A$450m Sydney mall purchase

2 weeks ago | realassets.ipe.com | Florence Chong

Australian hospitality and development group Iris Capital has set a record in paying A$450m (€255m) for a suburban shopping centre in Sydney’s north. The St Ives Shopping Village centre was one of a few privately held shopping centres and was owned by EK Nominees, controlled by the Katz family, since 1986. Iris Capital, which has built out growing portfolios of hotels and pubs in NSW, sees the purchase of the centre, St Ives Shopping Village, as its expansion into the retail sector.
Australian manager Dexus and Thirdi partner on A$300m residential project

2 weeks ago | realassets.ipe.com | Florence Chong

Dexus Real Estate Partnership (DREP), an opportunistic strategy, managed by Dexus, has formed a partnership with Australian property developer Thirdi to develop a A$300m (€169m) residential project in Sydney. The joint venture will develop a 178-unit resort-style retirement village on a 1-hectare site at the Merewether Golf Club in Newcastle.
Singapore’s GIC expands India hotel presence with SAMHI deal

3 weeks ago | realassets.ipe.com | Florence Chong

Singapore’s GIC has acquired a stake in hotel-owning companies controlled by SAMHI Hotels and has also entered a joint venture to create a US$300m (€264m) platform to develop upscale hotel assets in India. The sovereign wealth fund has agreed to pay the Indian company INR7.52bn (€78m) for a 35% stake in its subsidiary companies that own five hotels in India, which will seed the platform.
Pembroke enters Australian residential market with Melbourne site purchase

3 weeks ago | realassets.ipe.com | Florence Chong

US-based real estate investment company Pembroke has entered the Australian build-to-rent (BTR) market with the purchase of a development site in inner Melbourne from Greystar. The site at 155 Johnson Street, Fitzroy, has approval for 200 units. Pembroke, which manages the private capital of its two principal long-term investors, FMR LLC and FIL Limited, declined to comment on both the purchase price and the final value of the project.
Lone Star Funds acquires 175-room hotel in Japan from Mapletree

3 weeks ago | realassets.ipe.com | Florence Chong

Lone Star Funds has bought a 175-room hotel in Japan from Mapletree Investments for an undisclosed amount. The acquisition of the Oakwood Suites in Yokohama was made by an affiliate of Lone Star Real Estate Fund VII. The hotel opened in November 2020 as part of a 1.8m sqft mixed-use redevelopment project led by Mitsui Fudosan, and occupies floors 46 through 51 in a condominium tower with over 1,176 high-end residential units.