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The week in global real estate - 14 September 2020

The week in global real estate  14 September 2020  hero

A weekly update of the biggest real estate news from around the globe.

Institutional / REITs

  • A new REIT in the UK is planning an IPO to raise £250M to invest in housing for the homeless. Home REIT is targeting a 7.5% return to shareholders from leasing real estate assets to charities and housing associations. More info here.
  • Singapore's CapitaLand Mall Trust has converted its S$200M revolving credit facility with United Overseas Bank into a sustainability linked loan. Interest rates on the loan are linked to the company's achievements in the Global Real Estate Sustainability Benchmark assessment. More info here.


  • Charter Hall and Cbus Property’s 171 Collins Street in Melbourne has been awarded a 6-star NABERS Waste rating for the second year in a row. It is the only building in the Australia to have achieved this award. More info here.
  • Dexus has sold an A-grade office tower to German investor Deka Immobilien for A$450M. The 22-storey tower at 452 Flinders Street in Melbourne CBD was acquired for A$194M in 2011. Dexus has invested in the foyer and improved the building's leasing profile. More info here.
  • Singapore's KEPPEL REIT has acquired a 100% stake in the Pinnacle Office Park in Sydney from Goodman Group for A$306M. The initial income yield is 5.25%. More info here.
  • Amazon is unlikely to renew the lease for its Seattle office building as it plans to expand its Bellevue campus in Washington. They are adding 15,000 jobs to the 10,000 already planned for the office campus. More info here.
  • Amazon Music have signed a 3,7000 sqm lease in a new Williamsburg building in Brooklyn, New York. The lease is positive news for the outlook of the Brooklyn office market. More info here.


  • McLaren are planning a sale and leaseback of their Woking factory in the UK to assist with reducing company debt. The company said they are not a real estate business so do not want funds tied up real estate. More info here.   

Hotel and tourism

  • TFE Hotels have announced the upper-midscale hotel brand Quincy for a new 241-room hotel in Melbourne. This will be the Singaporean brand's first hotel in Australia. It will feature three restaurants and a rooftop pool. More info here.
  • Quest Hotels will open a new 71-room hotel in the Woolooware Bay Town Centre development in southern Sydney. The town centre development overlooks the home of the Cronulla Sharks NRL team. There will also be 898 apartments, a shopping centre and a new league club facility. More info here.
  • Quest are continuing with their expansion plans into Europe despite the pandemic. More info here.
  • Construction has commenced on a new 47 storey mixed use tower in the Loop, Chicago. The tower will have 2,300 sqm of retail space, 280 hotel rooms and 289 residential apartments. Netherlands hotel chain CitizenM will purchase the hotel component when completed in 2022. More info here.
  • A trio of Napleonic forts in the English Channel have been placed on the market for sale. Two of the three man-made forts from the 1860's have been and converted into hotels with bars and restaurants. They are only accessible by boat or helicopter. More info here.


  • Griffith University has unveiled a $1B plan to leave their Mount Gravatt Campus for an expanded campus in Brisbane CBD. The expanded campus includes plans for a 55-storey tower to accommodate 4,000 students that will be integrated in the redevelopment of a train station. More info here.


  • The redevelopment of the 40 hectare former Moonee Valley Racecourse in Melbourne is moving ahead with construction commencing on the $2B project. The racecourse masterplan will have 2,000 new dwellings over the next 15 years. More info here.

Related Experts

William Silk

Analyst | Stategic Advisory


William joined the Strategic Advisory team as an Analyst  in the Auckland CBD office in 2019, after completing studies at The University of Auckland. 

Specialising in research, reporting and analysis to support strategic commercial proprety decision making. 

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