Adrian Chui

Hong Kong real estate firm ESR Group with $154 billion portfolio has received a $7.1 billion privatization buyout offer from founder-included consortium, offering HKD 13 per share or option for share swap or both cash & share swap.  The price is 13.6% higher prior to trading halt.  The buyout consortiuminclude founders of ESR, Starwood Capital, Sixth Street, SSW Partners, Warburg Pincus & Qatar Investment Authority.  Japan MUFG, Mizuho & UOBwill provide a $1.5 billion loan facility. Read - https://lnkd.in/gktkSeTh follow Caproasia | Driving the future of Asia Hong Kong real estate firm ESR Group with $154 billion portfolio has received a $7.1 billion privatization buyout offer from founder-included consortium, offering HKD 13 per share or option for share swap or both cash & share swap.  The price is 13.6% higher prior to trading halt.  The buyout consortium include founders of ESR, Starwood Capital, Sixth Street, SSW Partners, Warburg Pincus & Qatar Investment Authority.  Japan MUFG, Mizuho & UOB will provide a $1.5 billion loan facility.  ESR Group is Asia-Pacific’s leading New Economy real asset manager and one of the largest listed real estate investment managers globally. Our fully integrated fund management and development platform extends across Australia and New Zealand, Japan, South Korea, Greater China, Southeast Asia, and India, including a presence in Europe. We provide investors with a diverse range of real asset investment and development solutions across private and public investment vehicles. Our focus on New Economy real assets offers customers modern solutions for logistics, data centres, and infrastructure and renewables. Our purpose, Space and Investment Solutions for a Sustainable Future, drives us to manage sustainably and impactfully for the communities where we operate and the spaces we develop to thrive for generations to come. ESR Group is listed on The Stock Exchange of Hong Kong (HKSE: 1821.HK).

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ESR Kendall Square REIT is a leading logistics center REIT in Korea that was listed on the stock market in December 2020. When it was first listed, there were 11 underlying assets, to which ESR Kendall Square REIT added more over the course of several years until the REIT owned 18 assets and had an AUM of KRW 2.45 trillion. Oversupply of logistics centers and high interest rates have plummeted the market into a deep freeze, but still ESR Kendall Square REIT purchased Yongin Logistics Center 1, Icheon Logistics Center 7, and Icheon Logistics Center 6 in 2022, never taking a break from asset incorporation. In 2021, ESR Kendall Square REIT acquired its first external asset, BRIC logistics center complex (now the Yongin Logistics Center 3), expanding its pipeline beyond its sponsor ESR Kendall Square. https://lnkd.in/g8Yh_C8B #SPI #Seoulpropertyinsight #realestate #koreanmarket #investment #commercialrealestate #DWSAssetManagement #ESRKendallSquareREIT #Logiport

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Russell Lam, CFA FRM MHKIS RPS (GP), Executive Director, Capital Markets at Knight Frank Hong Kong, was invited by The British Chamber of Commerce in Hong Kong to share his expert insights at a morning event providing attendees with a comprehensive update on the city’s evolving #RealEstate market. During the panel discussion, Russell highlighted a notable shift in the buyer landscape towards end users and family offices. While there is still a substantial capital pool in Hong Kong, the scale of institutional investment has decreased due to limited #investment opportunities that offer favourable risk-return profiles amid economic headwinds and high interest rates. Nevertheless, Russell remains optimistic about the sector’s long-term prospects, citing Hong Kong’s unique competitive advantage, particularly in finance, insurance and wealth management. Contact our team of professionals today for bespoke #property advice. #KnightFrank #YourPartnersinProperty #CapitalMarkets

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NEW: Second Party Opinion (SPO) issued for Chinachem Group ISS-Corporate is pleased to have worked with Chinachem Group, a Hong Kong leading private real estate company, in furtherance of launching its Sustainable Finance Framework which identifies a number of Green and Social categories as eligible use of proceeds. The Chinachem Group Sustainable Finance Framework is the first framework from the Hong Kong Real Estate sector that aligns with both the Hong Kong Taxonomy and the Common Ground Taxonomy, setting a precedent in the market and supporting its debut social loan. Under Green categories, the framework includes Green Buildings, Renewable Energy, Energy Efficiency, Pollution Prevention and Control, Clean Transportation, Green Technologies, Sustainable Water and Wastewater Management, Climate Change Adaptation and Circular Economy. Under social categories, it includes Community Investment and Engagement, Affordable Housing, Development of Age-Friendly and Inclusive Buildings, Cultural and Heritage Preservation.   ISS-Corporate provided an SPO on the alignment and eligibility of the Framework with the: 🔸 ICMA - International Capital Market Association Green Bond Principles 🔸 ICMA - International Capital Market Association Social Bond Principles 🔸 Loan Market Association (LMA) Association Green Loan Principles 🔸 LMA - Loan Market Association Social Loan Principles 🔸 Hong Kong Monetary Authority (HKMA) Hong Kong Taxonomy for Sustainable Finance 🔸 IPSF International Platform on Sustainable Finance Common Ground Taxonomy 🔸 Contribution of the Green and Social instruments to the United Nations Sustainable Development Goals Read the SPO here: https://lnkd.in/gDWms2Qn Learn more about our sustainable finance solutions here: https://lnkd.in/gGzibmsX #SPO #SustainableFinance #ChinachemGroup

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AIMS APAC REIT (AA REIT) has reported a distribution per unit (DPU) of 4.670 cents for the 1HFY2025 ended Sept 30, 0.4% higher y-o-y. During the period, AA REIT had a higher base of 813.6 million units, 0.4% higher y-o-y.

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MPF Ratings continues to assess the performance of the MPF Funds, highlighting the best performers and providing valuable insights for MPF members! According to the latest data, the 2024 Gold Rated scheme - AIA MPF has multiple funds that have excelled across various investment horizons, securing top positions in their respective categories: ．NO. 1 in 3 Year, 5 Year & 10 Year Return: Equity Fund (Asia) category - AIA Asian Equity Fund ．NO. 1 in Year-to-Date, 1 Year, 3 Year & 5 Year Return: Equity Fund (Global) Index Tracking sub-category - AIA World Fund ．NO. 1 in 5 Year Return: Equity Fund (HK & China) category - AIA Greater China Equity Fund ．NO. 1 in 3 Year Return: Equity Fund (US) category - AIA North American Equity Fund ．NO. 1 in 10 Year Return: Mixed Asset Fund (81-100% Equity) category - AIA Growth Portfolio ．NO. 1 in Year-to-Date & 1 Year Return: ESG Fund category - AIA Green Fund Stay tuned for more insights on MPF fund performance! Note: The data presented is based on MPF Ratings statistics as of August 31, 2024 #mpfratings #MPFScorecard #MPFHealthCheck #MPFFastMover #MPFRConsistentPerformers #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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🌏 Temasek's Global Investment Strategy Revealed! Curious about how one of the world's largest investment companies operates? Alpin Mehta, Head, Real Estate, and Deputy Head, Private Equity Fund Investments shares: • The 4 key structural trends shaping Temasek's investments • Why the US remains an attractive market • Temasek's bullish stance and cautious approach • How they balance long-term vision with adaptability • Insights into their portfolio reshaping strategy Dive into the mind of a global investor and gain valuable insights for your own investment approach! Catch the full episode: YouTube: https://lnkd.in/grVSRfK8 Spotify: https://lnkd.in/g4gPPPkW Apple: https://lnkd.in/gsB78PjC #InvestmentStrategy #GlobalMarkets #Temasek #TheFinancialCoconut #Investing

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[Affinity tapped as preferred bidder for SK Rent-a-Car] SK Networks has chosen Affinity Equity Partners, a private equity fund headquartered in Hong Kong, as its preferred bidder for the sale of its ownership stake in SK Rent-a-Car, the nation's No. 2 rental car service company. SK Networks intends to divest all of its shares in an estimated deal worth some 850 billion won ($613 million). Both parties plan to conduct due diligence before finalizing the contract, SK Networks said in a regulatory filing Tuesday. Following the merger of AJ Rent-a-Car with SK Networks' rental car business in 2019, SK Rent-a-Car quickly became the second largest player in Korea's car rental market, trailing only Lotte Rental. At the time, SK Networks purchased a 42 percent stake in AJ Rent-a-Car for 300 billion won and rebranded to SK Rent-A-Car a year later. Tap below to read full story. #SKNetworks #RentaCar #AJ #merge #private #equity #sold #rebrand #car #rentall #contract https://lnkd.in/g6sUxTYM

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Ryan Ip, CFA, MRICS, Vice President cum Co-Head of Public Policy Institute of 團結香港基金 Our Hong Kong Foundation (OHKF), wrote an article on Sing Tao Daily regarding the property market after the withdrawal of the cooling measure.   In response to various suspicion of whether the withdrawal would revive speculation in the property market or cause property prices to soar again, Ryan argued that the withdrawal was conducive to the improvement of the capacity and liquidity of the market, and helping families who were purchasing a property for the first time or purchasing another property to take a step forward on the ladder of "flat-for-flat", and additionally, a moderate relaxation of mortgage policies would also make it easier for those who wanted to move up to the next level on the ladder of "flat-for-flat".   Ryan mentioned that, at the present stage, the property market did not meet the conditions for speculation. As the government is active on land creation, the land reserve is gradually entering the "harvesting phase". Therefore, the government can be more confident about land sale, whenever appropriate, for adjusting market expectations, so that the market will continuously maintain a stable development after the withdrawal.   OHKF launched its latest exclusive annual housing supply forecast on 2 May. After years of strenuous effort in land creation and expediting housing supply, Hong Kong is now entering a "harvesting phase". As the housing supply outlook continues to improve, the time is ripe to shift the policy focus from enhancing quantity to enhancing quality. Read the report now!   Full Report: https://bit.ly/4a4EBg9 Press Release: https://bit.ly/4dCmdhR

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Rosanna Tang, Executive Director and Head of Research at Cushman & Wakefield Hong Kong commented on the 2024/25 Hong Kong Policy Address, Loosening the loan-to-value ratio may have little effect on short-term stimulus “We are pleased to see that the government has relaxed the loan-to-value ratio (LTV) policy by standardizing the loan-to-value ratio (LTV) policy for residential and non-residential properties to 70%, lowering the threshold for home ownership and investment. However, the residential market is greatly affected by interest rates and economic circulation, coupled with the cautious lending attitude of banks, the stimulus effect on the residential and non-residential investment markets in the short term is limited, and it is difficult to reflect it in the market in real time.” #CushmanWakefieldHK #CWExperts #RosannaTang #PolicyAddress2024 #HongKong ================================================= Subscribe to our e-newsletter for the latest market insights and updates >>> https://lnkd.in/g_qj2v6r 

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Lately, Fukuoka seems to be a popular topic for foreign institutional investors. We have had several conversations with inbound investors looking to explore opportunities and further understand Fukuoka’s real estate market. https://lnkd.in/gsNfcZhF #japanrealestate

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I described the internalization of an externally managed REIT as a 💣 “nuclear option” 💣during my speech at the recent REITAS (REIT Association of Singapore) Annual Conference. As a market matures, unitholders develop stronger views and want to voice these views and put them to a vote. ⏩ They want to see more value from their external REIT manager and their sponsors in return for the management fees they are paying. ⏩ Unlike companies, sponsors (not the unitholders) appoint the directors to the boards of external REIT managers. So unitholders may feel they have no control over the directors. ⏩When unitholders want change but feel powerless, they may resort to the nuclear option of internalization, which gives them greater control over the manager and potential savings on fees. How to avoid this nuclear option?   🎯 Align the interests of unitholders and external managers, whether in terms of fee structure or M&A activities.         🎯 Give unitholders intermediate options to express their views through unitholder engagement or a confirmatory vote on the appointment of directors.   🎯 Signal very clearly the sponsors’ commitment to creating value for unitholders.   I raised this and more when I spoke at the REITAS Annual Conference recently. Here’s my full speech: https://lnkd.in/grKBj25y

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It was surprising to me that some respondents to the MAS consultation called for even looser leverage rules for REITs. It just feels like a recipe for trouble. Let’s focus first on internalising the management function of these REITs. Here’s the latest #MarkToMarket column, in today’s edition of #TheBusinessTimes: https://lnkd.in/guWbYEaY

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Our Deputy CIO and Head of Fixed Income, Angus Hui was on DBS Bank’s “Asia Macro Mid-Year 2024 Outlook: Resiliency Amidst Volatility” panel session. He provided his perspectives on the outlook for the fixed income markets, and insights on how investors in Asia are positioning themselves for income and alpha opportunities ahead. #fixedincome #interestrates #income #opportunities #Asia Taimur Baig Archana Parekh Zhen Li

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