Serene Nah, managing director and head of Asia Pacific at Digital Realty
In today’s review of real estate news from around the region, Digital Realty opens its third data centre at its NRT campus near Tokyo as the site approaches 100 megawatts of IT capacity, Hanwha Vision buys the Bundang Humax Village office complex south of Seoul for $190 million, and Hon Kwok Land Investment and Chinney Investments agree to sell a Tokyo capsule hotel in Asakusa to Daiwa House Industry for $17.2 million.
Digital Realty Opens 3rd Data Centre at Japan Campus, Pushing Site Towards 100MW
Digital Realty has opened the NRT14 data centre at its NRT campus in Inzai City, Chiba prefecture, the third facility at the site following NRT10 in 2021 and NRT12 in 2024. Developed through MC Digital Realty, the company’s equal joint venture with Mitsubishi Corporation, NRT14 brings the campus’s total IT power capacity to near 100 megawatts.
The facility features hybrid liquid- and air-cooling capable of supporting up to 150 kilowatts per rack and has received Nvidia DGX-ready data centre certification for high-density AI workloads. Read more>>
Hanwha Vision Buys Office Complex Near Seoul for $190M
Hanwha Vision has acquired the Humax Village office complex in the Bundang Sunae area south of Seoul for KRW 280 billion ($190 million), with Korea Real Estate Investment & Trust selling the asset. The 44,600 square metre (480,070 square foot) office building is a landmark property in the Bundang market.
Real estate advisory firm Rsquare acted as sell-side advisor. Hanwha Vision plans to use the building as headquarters and office space for its affiliates, highlighting rising demand from owner-occupiers in Korea’s office investment market. Read more>>
Hon Kwok and Chinney Sell Tokyo Capsule Hotel to Daiwa House
Hong Kong-listed Hon Kwok Land Investment and parent Chinney Investments have agreed to sell a nine-storey capsule hotel in Tokyo’s Asakusa area to Japanese construction conglomerate Daiwa House Industry for JPY 2.7 billion ($17.2 million). The property spans a gross floor area of 1,316 square metres (14,165 square feet) and comprises 161 capsules and five guest rooms.
The consideration represents an 8.9 percent premium to the March independent valuation of JPY 2.5 billion and a 73.1 percent increase over the property’s 2023 acquisition cost. Completion is expected by 8 July, with the existing hotel operator agreeing to vacate by 30 June. Read more>>
Sunway’s $2.8B IJM Takeover Bid Collapses After Missing Acceptance Threshold
Malaysian conglomerate Sunway’s conditional voluntary takeover offer for IJM Corporation has lapsed after securing only 33.43 percent acceptances from IJM shareholders, falling short of the required 50 percent threshold at the 5pm deadline on 6 April. The bid valued IJM at MYR 11 billion ($2.8 billion).
Sunway said it respected the outcome and acknowledged the decision of IJM shareholders, noting that its own shareholders had voted 99.27 percent in favour of the acquisition at an extraordinary general meeting. The company said the proposal had been structured to create a stronger combined entity. Read more>>
Vita Partners Takes On Management of Northern Sydney Life Sciences Asset
Singapore-headquartered Vita Partners has been appointed manager of 1 Richardson Place in North Ryde, New South Wales, on behalf of Canberra-based medical philanthropic organisation John James Foundation. The asset consists of two standalone facilities offering close to 6,000 square metres (64,583 square feet) of net lettable area and is fully leased, with tenants including a leading food research and development company, the company said.
Vita Partners, which was established by Lendlease and Warburg Pincus, manages more than S$2 billion ($1.6 billion) in assets. The appointment follows the firm’s prior involvement in the original acquisition and ongoing strategic direction of the asset. Read more>>
Elanor Investors Seals $88M Rockworth Recapitalisation to Stabilise Balance Sheet
ASX-listed Elanor Investors Group has executed documentation for a A$125 million ($88.3 million) recapitalisation with Rockworth Capital Partners, designed to repay existing secured finance facilities, redeem corporate notes and inject working capital into the business. Settlement is expected before the end of April, the group said.
Elanor is also moving to finalise the acquisition of Firmus Capital, with the date for the transaction extended to 31 May to accommodate regulatory approvals and final due diligence. The group said it is establishing a separate independent trustee board for its managed funds to bolster corporate oversight. Read more>>
ING Signs 10-Year Lease for Australian HQ at Charter Hall’s One Shelley
ING Bank Australia has signed a 10-year lease for 11,000 square metres (118,403 square feet) at One Shelley Street in Sydney’s CBD, establishing the global financial institution’s new Australian headquarters. The building is owned by Charter Hall on behalf of partners including the Charter Hall Prime Office Fund and Morgan Stanley.
The A$600 million ($424 million) office asset is undergoing repositioning upgrades focused on sustainability and workplace amenities, including a 6 Star Green Star Performance rating and renewable electricity supply. ING plans to relocate in mid-2027, joining tenants such as WPP and Iress at the Barangaroo-adjacent workplace hub. Read more>>
Vestas and CDL Partner to Expand Hospitality Investments
Vestas Asset Management has formed a strategic partnership with Singapore-listed City Developments Ltd to expand hospitality investments in South Korea and overseas markets. CDL will participate as a shareholder through an equity investment via a third-party capital increase.
The partners will develop hotel and senior housing assets into a core investment platform by combining CDL’s global hotel management expertise with Vestas Asset Management’s domestic investment network. Read more>>
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