international – realestatesource

KOREAN-based investors have emerged as one of the biggest buyers of Australian commercial real estate since the 2008 economic downturn.

In one of the most recent moves, Ikogest Asia, a Luxembourg-based, Korean-backed pension fund, reportedly made an offer to pay about $200 million for the industrial holdings, and part of a float being offloaded by Melbourne-based developer Salta Properties.

Singapore’s GIC is now reportedly investigating that portfolio.

National

Valad Enters Deal with Bank of Scotland

July 2, 2009 Marc Pallisco institution, international

SYDNEY: Valad Property Group (“Valad” or the “Group”, ASX: VPG) announced it has just signed agreements with Bank of Scotland plc (“BoS”) necessary to create the Diversified UK and European (“DUKE”) property joint venture, which has a term of three years. A small number of subsidiary documents remain to be executed and these are expected to be signed shortly.