Mapletree Picks Banks for S$1 Billion Singapore IPO of Assets
Temasek-owned Mapletree Investments has appointed Citigroup, DBS and Morgan Stanley for a Singapore IPO that could raise at least S$1 billion ($783.6 million). The listing could take place as soon as next year, though the assets to be included have not yet been decided.
Temasek-owned Mapletree Investments has picked banks for a Singapore initial public offering of some of its assets that could raise at least S$1 billion ($783.6 million), according to a Bloomberg report citing people familiar with the matter. Citigroup, DBS and Morgan Stanley are working on the planned listing, which could take place as soon as next year, the sources said. Mapletree has yet to decide which assets will be included in the offering, according to the report.
In other Asia Pacific real estate news, Singapore-based DayOne has secured a HK$1.9 billion ($242.2 million) loan to help finance a data centre project in Hong Kong, according to a Bloomberg report citing people familiar with the matter. Bank of East Asia contributed HK$955 million to the facility, while DBS, OCBC and UOB provided HK$300 million each, the sources said.
Chinese tech giant Huawei is in talks to lease two floors totalling about 70,000 square feet (6,503 square metres) in Sun Hung Kai Properties’ new One IGC office tower beside Hong Kong’s West Kowloon high speed rail terminus, according to HK01. The sixth and seventh floor space is expected to rent for HK$40 ($5.10) per square foot.
Singapore’s Wing Tai Holdings has won planning approval for a A$270.1 million ($189.4 million) apartment tower on St Kilda Road, 4 kilometres (2.5 miles) south of Melbourne’s city centre, according to The Urban Developer. Victoria’s planning department capped the tower at 17 storeys.
US-based Barings has completed a warehouse of 6,242 square metres (67,189 square feet) at 20 Austrak Drive in the northern Melbourne suburb of Somerton, the first completed development at the Melbourne Intermodal & Industrial Exchange, the company said. A neighbouring 22,520 square metre logistics development with two tenancies is on track for completion in December.
Sydney-based Ashe Morgan is moving to buy 130 Pitt Street, an office tower in Sydney’s city centre, from MEC Global Partners Asia for A$200 million ($140.3 million), according to The Australian. MEC Global paid A$229 million for the building in 2018.
Nippon Hotel & Residential Investment Corporation has agreed to sell the Ooedo Onsen Monogatari Premium Atami hot spring resort in Shizuoka prefecture to an undisclosed Japanese company for JPY 3.1 billion ($19.6 million), according to a filing. Australia’s Charter Hall has fully leased its A$1 billion ($701.3 million) Light Horse Logistics Hub, with 180,000 square metres (1.9 million square feet) of space in the western Sydney suburb of Eastern Creek.
