HK-based SHK sets up real estate debt fund, seeks to raise up to $300m
Hong Kong. Source: Robert Bye/Unsplash
April 9, 2021
Hong Kong-based alternative investment firm Sun Hung Kai & Co (SHK & Co) has launched a real estate debt fund, targeting to raise $200-300 million to invest in first and second mortgages for commercial and residential property in the Asia Pacific.
The five-year debt fund is managed by SHK’s in-house real estate investment group, Multiple Capital Investment Partners (MCIP). SHK has already committed $100 million to the new vehicle.
In a statement, SHK said MCIP will invest in high-quality mortgage loans in developed markets, for development, repositioning, or refinancing of the properties. Its targeted markets include Australia and New Zealand, Greater China, South Korea, and Southeast Asia. Assets in the UK and selective EU countries will also be considered on an opportunistic basis.
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Editor’s take: The week that was Feb 15-20
February 21, 2021
It’s been known for a long time that there were cracks emerging at the Philippines-based prefabricated housing construction firm
Revolution Precrafted.
This week, the controversies regarding the luxury builder took a new turn when the country’s National Bureau of Investigation, acting on a complaint by contractors and suppliers, decided to probe the company. The complainants said they were duped by the firm, which allegedly led to losses worth $3 million.
Established in 2015 by
Robbie Antonio, the flamboyant son of the real estate tycoon
Jose Antonio, Revolution Precrafted had become the first Philippine unicorn within two years of its founding.
Credit FILE PHOTO: Lindsey Wright / WTIU
A state House bill would require preschools and day care centers to test for lead in drinking water and take action if lead levels are too high. Kids with lead poisoning can have trouble learning, behavioral issues, and poor kidney function. It’s especially harmful to children under the age of 6.
The chair of the House Environmental Affairs Committee says he won’t hear the bill because the issue of lead in drinking water is being addressed at the federal level.
But last year, the Environmental Protection Agency kept the level at which utilities had to take action the same at 15 parts per billion. The federal Food and Drug Administration doesn’t even allow bottled water to have more than five parts per billion of lead.