01 May 2019
Development assets take the share
Investments in development assets as a share of total investments across various real-estate asset classes (excluding residential) have risen to 33 per cent ($ 960 million) in 2018 (YTD) from 4 per cent ($ 135 million) in 2017, according to a JLL report.
- Blackstone, along with its JV with Embassy Group, Salarpuria Sattva, Panchshil Realty and K Raheja Corp, owns 78 million sq ft, while Brookfield has built an office space portfolio of 24 million sq ft.
- Ascendas Property Fund Trustee has entered into agreement with Phoenix Ventures to acquire two upcoming commercial office buildings at a Vance Business Hub in Hyderabad.
- ASK Group has invested $ 31 million in ATS Infrastructure’s mixed-use development project in Noida.
- In retail, GIC bought a 50 per cent stake in Viviana Mall, Thane, while Blackstone acquired stake in Forum Group’s Esplanade Mall in Bhubaneswar. Dutch pension fund APG Asset Management and Xander fund have formed a platform to invest $ 450 million in the retail sector.
- Investor attention in warehousing and logistics has increased manifold. Canada Pension Plan Investment Board and Indospace have formed a JV—Indospace Core—with an initial commitment to invest $ 500 million to acquire and develop modern logistics facilities.