The Singaporean owner of the CDL property and Millennium & Copthorne hotel groups, Hong Leong, has reached agreement with independent directors of its London-listed hotel company on an offer price to assume full control of that London business.
Securities - overseas
CDL Hospitality Trusts (as owner) and Millennium & Copthorne Hotels NZ Ltd (as manager) said yesterday they’d renewed the management lease of the Grand Millennium Auckland on Mayoral Drive for a further 3-year term from September.
The Goodman Property Trust’s manager, Goodman (NZ) Ltd, said in its release of the trust’s annual result this week that its decision to focus exclusively on the Auckland industrial market was producing record returns for investors and quality property solutions for its customers.
Infratil Ltd has conditionally sold its 50% interest in the Australian National University’s purpose-built student accommodation concession to 2 AMP Capital Ltd funds after failing to broaden the platform.
Brisbane-based ASX-listed Cromwell Property Group completed an $A228 million ($NZ242.5 million) capital-raising at the start of this month intended largely to contribute to its share in a 23-property investment by the European trust it launched in 2017.
Singaporean property giants CapitaLand Ltd & AscendasSingbridge Pte Ltd announced their intention to merge their interests yesterday.