Frasers property €285m logistics acquisition and Sydney mansion’s record breaking A$100m price

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Frasers Property closes €285M European deal for 22-asset portfolio

Frasers Property Ltd. completed the acquisition of a 94% stake in AI Gewerbepark Tamm GmbH, marking the closing of a €285.2 million deal signed in February for a portfolio of properties in Germany and Austria.

The first phase of the acquisition closed in July, involving the 100% stake in Alpha Industrial GmbH & Co. KG and half of the 22 assets included in the agreement.

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AI Gewerbepark Tamm GmbH’s investment property is located in the German municipality of Tamm and covers 39,220 square meters of gross leaseable area, according to a release.




Sydney mansion bought for A$100M breaks Australia’s priciest home deal record

Software company Atlassian Pty. Ltd.’s co-founder, Mike Cannon-Brookes, and his wife purchased the Fairwater mansion along Sydney Harbour for A$100 million, making it the most expensive deal for a home in Australia, The Australian reported.

The property in Sydney’s Point Piper suburb was previously owned by the late Australian-Polish businesswoman Mary Fairfax. The mansion is the largest privately owned harborside property in Sydney, spanning 11,210 square meters.

Christie’s International Real Estate managed the sale, the Sept. 28 report added.

Ascendas-Singbridge buying Singapore data center from Sabana REIT for S$100M

Ascendas-Singbridge Pte. Ltd. signed a conditional deal to buy the Geo-Tele Centre in Singapore from the manager of Sabana Shari’ah Compliant Industrial REIT for S$99.6 million in cash, The (Singapore) Business Times reported.

The industrial asset at 9 Tai Seng Dr. is being sold 2.5x over its June 30 book valuation. Ascendas-Singbridge plans to upgrade the six-story building, featuring a gross floor area of 218,905 square feet, with completion slated for early 2020. The site’s tenure has 37 years left, the Sept. 28 report added.

The sale is in line with the Sabana’s strategy to divest under-performing and mature assets, and to recycle capital. The real estate investment trust will channel proceeds from the sale to repay outstanding borrowings, as well as for property upgrades, redevelopment projects or purchases.

The deal will close in the first quarter of 2019, the publication added.

As of Sept. 27, US$1 was equivalent to S$1.37.




Tuan Sing’s investment in a China mixed-use development

Tuan Sing Holdings Ltd. is taking up an initial 7.8% stake in a 5.0 billion-yuan mixed-use development in Hainan by investing 75 million yuan in Hainan Summer Property Development Ltd.’s Sanya Summer Real Estate Co. Ltd., the owner of the project.

The Singapore-listed property company can increase its interest in the Hainan project, which is expected to be completed by 2021-end, once shareholders of its SP Corp. Ltd. subsidiary approve the planned repayment of a S$20 million loan through the issuance of new Sanya Summer shares, according to a filing.

Also read: Capitaland and Ascott’s acquisition of US multifamily and Tauzia

Roxy Pacific’s acquisition of 22 Farrer Road

A joint venture involving Roxy-Pacific Holdings Ltd.’s RP Ventures Pte. Ltd. subsidiary can now proceed with its S$98.8 million collective acquisition of the 39,130-square-foot Wilshire freehold residential site at 22 Farrer Rd. upon its receipt of an “order for sale” from the High Court of Singapore.


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