Castlelake, owner of a 79% stake in AEDAS, has signed an irrevocable agreement to sell its stake to Neinor for €24.485/sh (€21.335/sh post div.) Acquisition of a premium portfolio with c.€2bn GAV (c.20,200#) at a c.30% NAV discount Conservative underwriting targeting a +20% IRR and 1.8x MOIC, implying significant de-risking and acceleration of Neinor’s Strategic Plan 2023-27: Highly accretive transaction, driving €150mn Earnings uplift over 2025-27 (+40% vs Strategic Plan target and c.+25% on EPS), and ...

房地产统计局 1-5 月数据点评：5 月新房销售金额与新开工面积降幅 均有所收窄 2025 年 6 月 16 日 看好/维持 房地产 行业报告 未来 3-6 个月行业大事： 销售：5 月新房销售面积同比降幅有所扩大，销售均价环比回升带动销售金额 同比降幅收窄。 2025 年 1-5 月商品房累计销售面积同比增速为-2.9%、前值为-2.8%；累计销 售金额同比增速为-3.8%、前值为-3.2%。其中，5 月商品房销售面积同比增速 为-3.3%、前值为-2.1%；销售金额同比增速为-6%、前值为-6.7%；销售均价 单月同比增速为-2.8%、单月环比增速为 2.5%。 开发投资：5 月新开工面积与竣工面积同比降幅收窄，开发投资维持弱势。 2025 年 1-5 月房屋累计新开工面积同比增速为-22.8%、前值为-23.8%；房屋 累计竣工面积同比增速为-17.3%、前值为-16.9%；开发投资累计金额同比增 速为-10.7%，前值为-10.3%。其中，5 月单月新开工面积同比增速为-19.3%， 前值为-22.1%；竣工面积同比增速为-19.5%，前值为-27.9%；开发投资金额 同比增速为-12%，前值为-11 ...

Asia Pacific Corporate Research 11 June 2025 China Property Reopening offshore bond market for non-SOEs? According to Bloomberg, Seazen may become the first non-SOE developer in two years to issue USD bonds, suggesting a potential reopening of the offshore bond market for non-SOEs. From an equity perspective, we see this more as a symbolic gesture than a restorative move that could bring the company totally out of the woods. Due to high costs (potentially 11-13%), we think better alternatives to refinance o ...

12 June 2025 | 6:17PM CST China Property What would it take to clear China's housing inventory (No. 2) With incremental inventory (including both saleable and non-saleable WIP and land reserve) data being disclosed by city governments lately, we perform a deep dive into China's housing inventory in the 2nd edition on this topic (see first edition here). We examine 78 cities which account for ~50% of China's population and housing stock and ~60% GDP. Shi Xu +86(21)2401-8929 | shi.x.xu@goldmansachs.cn Goldman ...

Interior Renderings of ENT TERRACE Tsukiji 6 Chome (1) Interior Renderings of ENT TERRACE Tsukiji 6 Chome (1) Interior Renderings of ENT TERRACE Tsukiji 6 Chome (2) Interior Renderings of ENT TERRACE Tsukiji 6 Chome (2) Beautiful View Villa (Left) Produced by Pro Style Design Beautiful View Villa (Left) Produced by Pro Style Design Luxury Italian Casa (Right), Produced by Pro Style Design Luxury Italian Casa (Right), Produced by Pro Style Design Conceptual Map of the Tsukiji District Commun ...

在大校场站的下一站，10号线二期机场跑道旧址站机电安装也基本完成，正有条不紊地推进装饰装修工 作。记者在现场看到，站厅的墙面、天花板等区域已完成部分施工。 机场跑道旧址站为三线换乘站，地铁车站与金地商置地下部分联合共建，形成一个不规则的超大超深三 角基坑，最大深度24.5米，各类转角约50处。由于基坑的周边紧邻原机场跑道、瞭望塔等文物需加以保 护，因此施工期间对基坑整体的沉降、变形和稳定性控制要求较高。为此，项目采用了深基坑自动化监 测系统，在基坑的16个转角等重要点位安装了基坑监测设备，24小时采集基坑信息，动态化指导施工。 10号线二期建成后将延续其主城区南部的东西向骨干线身份，和10号线一期工程携手，打造一条便捷高 效的交通通道，使江北新区、主城与南部新城和麒麟地区紧密相连。 南报网讯（通讯员 宁建轩 记者 吴春霞 何钢） 记者12日从市建委了解到，南京地铁10号线二期全线顺 利轨通，目前车站已完成所有主体结构建设，全面进入机电安装和装饰装修阶段。 10号线二期工程西起于10号线一期工程终点安德门站，终至石杨东路站，线路全长13.35公里，共设车 站10座，其中规划6座换乘站。其中，大校场站为两线换乘站 ...

The new community features 285 luxury apartment homes with refined finishes and modern conveniences in a premier Frisco locationFRISCO, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc (NYSE: TOL), the nation's leading builder of luxury homes, in partnership with Pondmoon Capital, is pleased to announce the opening of Mirra, a five-story, 285-unit luxury apartment community located in the heart of Frisco Square near Dallas, Texas. Mirra of ...

日前，徐汇南部综合体"华之门"部分地块规划变更，包括 150米超高层地标取消、新增一幅体量达4.3万㎡纯宅地等。 02 上海多幅地块"商转住" 近一段时间，上海城央、城中及外围区域，都有土地规划中途变更， 减少商办，增加住宅。 01 华之门150米超高层取消 新增4.3万㎡体量住宅 徐汇华泾的"华之门"综合体开发地块出现用地变更，其中原D7C-2地块由150米超高层商办用地，变更为 120米商办+商业混合用地。 原D7D-1地块由商办用地，变更为 限高60米，容积率2.5的纯住宅。占地17389㎡，地块住宅体量达到 4.3万㎡。 原D7B-2地块由商业&社区服务用地，变更为四类住宅&社区级公共服务设施混合用地。 2024年至今，上海城央多幅地块变脸： 1 徐汇滨江 2021年，小米全资子公司谧空间（上海）信息科技有限公司竞得《徐汇区斜土街道xh128D-07地块》，当时为商办用地。2024年土地收储后重新上架，地 块性质调整为住宅用地，用地面积不变，仍为16666㎡，限高80米，容积率由3.0调整为2.2，同时配建一处1840㎡社区级公共服务设施。 2024年8月7日，该地块被绿城集团以48.05亿元摘得，成 ...

Alico (ALCO) Conference Summary Company Overview - Alico Incorporated, ticker ALCO, is a public company trading on Nasdaq with a market cap of approximately $240 million [4][3]. - The company has a long history of over 125 years in agribusiness and land management, primarily in Florida [5][4]. - Alico owns about 51,000 acres of land across 31 locations in eight counties in Florida [7][6]. Strategic Transition - Alico is transitioning from a focus on citrus operations to a diversified land company, with about 25% of its land holdings being repurposed for commercial and residential development [5][6]. - The decision to wind down citrus operations was driven by financial and tactical reasons, including losses due to environmental impacts and diseases affecting the citrus industry [15][14]. - The company aims to balance short-term cash flow from agricultural operations with long-term capital returns through real estate development [6][16]. Financial Performance and Projections - Alico projects an EBITDA of approximately $20 million for the fiscal year ending September 2025, with an expected cash balance of $25 million and a net debt reduction to around $60 million [16][17]. - The present value of Alico's land is estimated between $650 million and $750 million, indicating the company is trading at a significant discount to its potential market value [19][20]. - The company has identified four projects that could generate between $335 million and $380 million in present value over the next five years [20][21]. Development Projects - Key projects include the Corkscrew Grove Village in Collier County, which will feature mixed-use villages and a 1,500-acre environmentally friendly corridor for the Florida panther [26][27]. - Other projects include Bonnet Lake, Saddlebag in Polk County, and Plant World, each with varying timelines and development plans [30][33]. Shareholder Returns and Capital Management - Alico has a history of returning capital to shareholders, having returned over $190 million through dividends and debt prepayments over the past ten years [35][36]. - The company has a new $50 million buyback program approved by the board, indicating a commitment to returning capital as cash flow allows [36][40]. - Alico maintains a strong liquidity position with $25 million in cash and $95 million in untapped credit lines [39][42]. Market Perception and Future Outlook - The company acknowledges a disconnect between its market capitalization and the fair value of its assets, attributing it to market skepticism regarding its transition from citrus to real estate [57][58]. - Alico aims to close this value gap by consistently delivering on its strategic roadmap and maintaining transparency with investors [62][63]. - The management is focused on executing its strategy and returning capital to shareholders while managing the remaining agricultural operations effectively [38][59]. Additional Insights - The company has been proactive in managing its land and has a detailed master plan for each acre, ensuring the highest and best use of its assets [22][23]. - Alico's management team has significant experience in land entitlement and real estate development, which is crucial for the company's strategic shift [11][12].

RealEstate网站6月11日报道，Crown位于Barangaroo的六居室顶层公寓以约8000万 澳元成交，买家据说 来自悉尼东区。 消息人士证实，这套令人惊叹的公寓位于Barangaroo大楼的81层和82层，周二通过 The Agency的Steven Chen和Colliers的Luke Hayes完成交易。 当被问及此事时，Chen和Hayes均未予置评，但其他消息人士确认交易价格"约为 8000万澳元"。 不过，也有消息称成交价在7000万至7500万澳元之间。 但无论如何，这是澳洲已完工公寓的最高成交 价。 （图片来源：RealEstate） （图片来源：RealEstate） 虽然2019年曾有一笔1.42亿澳元的交易——隔壁的Lendlease Tower 1开发项目——但 那是楼花，且是两 套公寓合并出售。 如果成交价为8000万澳元，那么这套849平方米的双层公寓每平方米的价格超94000 澳元。 这套由Meyer Davis设计的公寓配有带阳台的小型泳池，全屋共有4个阳台，可以尽 享Darling Harbour、 North Sydney、CBD和海港美景。 其它设施包括健身房 ...