A consortium led by Frasers Property has submitted the highest bid of S$2.1 billion for the Bayshore Drive mixed-use site in Singapore. Spanning over 57,000 square metres, this key parcel will form the only integrated transport, retail and residential hub in the new Bayshore precinct, linking directly to Bedok South MRT station and a new bus interchange.
Saudi Arabia's Public Investment Fund and global investment manager I Squared Capital have signed a memorandum of understanding. The agreement outlines plans for I Squared to invest up to $2 billion in real estate and infrastructure assets owned by the sovereign wealth fund and its portfolio companies, focusing heavily on digital infrastructure and district cooling systems across the Kingdom.
Greystar has finalised a deal for the University Drive student housing project at Pennsylvania State University. Developed alongside JLC Infrastructure, the scheme will deliver 1,505 beds across 703 units in four podium-style buildings. This project is the second student housing asset for the Greystar infrastructure platform and marks the first public-private partnership housing venture for the university.
Greystone has successfully arranged a $38.75 million refinancing package for Skylar Lofts in Jersey City. The newly built 80-unit luxury multifamily development was created by The Manhattan Building Company. Functioning as the opening phase of a major six-part master redevelopment project, the six-story property features premium residential spaces alongside ground-floor retail units and structured parking spaces.
Philippine property giant Megaworld has raised P5.6 billion from block sales of MREIT shares to fund its township development pipeline. The capital will back the next generation of recurring income assets ahead of a major fifth asset infusion. This incoming "Wave 5" expansion will add 303,500 square meters of gross leasable area, diversifying the real estate investment trust beyond offices into retail and hotels.
Galvanize Real Estate has entered the Massachusetts market by acquiring the 360,000-square-foot Liberty Logistics Portfolio in Greater Boston. The three-building purchase expands the firm's US footprint to 3.2 million square feet. The company plans to modernise and decarbonise the assets through solar power, electrification and battery storage, aiming to reduce onsite emissions by 104%.
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