office

Brookfield Asset Management has acquired an office skyscraper in Tokyo from a consortium of Japanese investors for an undisclosed price; the global HQ of Dentsu Group is a tenant.

Office sharing in the time of Covid-19 sounds impossible, but Hong Kong coworking space provider The Executive Centre sees light at the end of the tunnel even as competitors flail.

The retail-focused trust, which is sponsored by Singapore Press Holdings, decides to go ahead after signing up five cornerstones and enough anchor demand to cover the entire base deal.

The company will sell two retail-focused properties to the Reit, which will then raise about S$540 million from the sale of 30% of its units to public investors. Existing SPH shareholders will receive a special dividend.

The well-flagged deal triggers a slight gain in the unit price in the aftermarket. Meanwhile, the chairman of Haitian sells $100 million worth of shares in the maker of plastic moulding machines.

ABC will use the 28-storey building as its Hong Kong headquarters, making it the first of China's big four banks to own its office building in the city.

The Singapore Reit is able to raise $718 million after the institutional tranche is more than five times covered.

Over-capacity and weakening demand make now a good time to take a look at ShanghaiÆs office sector.