Tim Du Temple has joined JLL as head of debt advisory in Australia. Prior to joining JLL, Du Temple ran his own boutique real estate capital firm and has over a decade of experience in the Australian structured real estate financing market.
8990 Holdings Inc (8990) has mandated China Bank Capital to arrange and underwrite a PHP5 billion-worth ($107 million) securitisation of contracts to sell (CTS). 8990 subsidiaries will sell the CTS in receivables to a special purpose company (SPC) of China Bank Capital, which will then issue three tranches of asset-backed securities (ABS) to investors.
UBS Asset Management (UBS AM) has hired Derek Lai as senior portfolio manager for its Global Real Estate business (GRE).
Investment allocations outside the traditional commercial sectors (office, retail, industrial) have been increasing by 25 percent year-on-year on average over the past 15 years, according to a report by real estate advisor Savills. The report also highlights the rise in European residential investment specifically.
Singapore's Ascott Residence Trust (Ascott Reit) has secured a S$119.5 million ($87.4 million) loan for its S$218-million ($158 million) acquisition of the Sheraton Tribeca New York Hotel.
A study from Savills shows that allocations into alternative real estate assets have increased by approximately 25 percent year-on-year over the past 15 years.
Thailand’s Golden Ventures REIT aims to raise 10 billion baht ($283 million; €258 million) to invest in the leasehold rights of two Grade A office buildings in Bangkok’s prime area. The REIT was set up by Univentures and Golden Land, two of Thailand’s major property developers.
The deleveraging process in China is “progressing relatively slowly thus far” according to a report titled “Deleveraging, Destocking and Rebalancing”, authored by Hang Seng Bank acting chief economist Thomas Shik.
Greater China investment into European commercial real estate (CRE) reached €8.5 billion ($9.3 billion) in 2015, a 22 percent increase on 2014. The trend will continue to be upwards, according to the latest research by Cushman & Wakefield.
Institutional investment will continue despite a pull-back from residential, writes Christie Ou.