(文/解红娟 编辑/张广凯） 上海大宗交易市场的成交金额已连续四年呈现下滑态势。 近日，戴德梁行发布2025上海房地产大宗交易市场报告，报告指出，2025年上海大宗交易市场共录得75宗、共计424亿元成交，同比均下降约40%，成交金 额连续四年收窄。其中，2025年第四季度市场延续低迷态势，录得14宗、共计67亿元成交，金额同比下降63%、环比下降57%。 行业周期性调整之下，资产成交价格进入低位区间。2025年上海大宗市场单宗成交均价约5.6亿元，四季度降至4.8亿元。全年成交额小于3亿元的宗数有38 笔，宗数占比超50%。 2025年12月底，京投发展宣布以0元收购TrillionFullInvestmentsLimited持有的上海礼仕45%股权，同时以3500万元受让复地集团对上海礼仕的2.09亿元债权。 交易完成后，京投发展对上海礼仕的持股比例升至100%，正式将这家由凯悦集团运营、亚洲首家安达仕品牌五星级酒店纳入版图。 此外，年内酒店板块还落地5宗大宗交易，均为总价低于3亿元的精品酒店项目，例如山东海鹏经济发展集团以2.05亿元收购上海虹桥国展中心亚朵酒店。 买家结构方面，内资买家持续占据绝对主导 ...

Core Insights - Nextensa NV/SA has announced the total number of voting rights and shares following the grant of double voting rights to certain shares [1] Group 1: Voting Rights and Shares - As of December 18, 2025, the total capital of Nextensa is EUR 111,856,017.40, with a total number of securities carrying voting rights amounting to 10,171,130 [2] - The total number of voting rights, which serves as the denominator for shareholder notifications, is 16,346,856 [3] - Shareholders can determine if they exceed the notification thresholds of 3%, 5%, 10%, etc., based on the total voting rights [3] Group 2: Double Voting Rights - Out of the 6,175,726 shares eligible for double voting rights, 204 shares are held by a subsidiary, and their voting rights are suspended [4] - Additionally, the voting rights attached to 65,000 treasury shares are also suspended in accordance with company regulations [4] Group 3: Company Overview - Nextensa is a mixed-use real estate investor and developer, with an investment portfolio valued at approximately €1.1 billion as of September 30, 2025 [5] - The company's portfolio is distributed across Luxembourg (31%), Belgium (52%), and Austria (17%) [5] - Nextensa is actively involved in large urban developments, including projects in Brussels and Luxembourg [6] Group 4: Market Information - Nextensa is listed on Euronext Brussels, with a market capitalization of €423 million as of September 30, 2025 [7]

Project sales in excess of $100M SAN DIEGO, CALIFORNIA, Dec. 16, 2025 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), a global real estate investment and development firm, today announced that they have closed on the acquisition of 300 acres of land and structures located adjacent to the Company’s Rancho Costa Verde development. This purchase is already subdivided into 7 parcels consisting of approximately 300 residential homesites, 12 existing Tiny Homes, and ...

Core Viewpoint - Kadestone Capital Corp. reported a net loss of CAD 3.61 million for the nine months ended September 30, 2025, reflecting an increase in operational expenses compared to the previous year [2]. Financial Results - The net loss for the nine months ended September 30, 2025, was CAD 3,608,106, or CAD 0.08 per share, compared to a net loss of CAD 2,761,871, or CAD 0.06 per share, for the same period in the prior year [2]. - Major contributors to the increased loss included operating expenses such as salaries and wages (CAD 1,396,715), consulting fees (CAD 1,303,693), and interest expense (CAD 765,662) [2]. - Income from associates totaled CAD 729,271, and income from an investment in a mortgage fund amounted to CAD 199,484, which partially offset the losses [2]. Cash Flow - Net cash used in operating activities rose to CAD 3,789,439 for the nine months ended September 30, 2025, compared to CAD 2,606,385 in the prior year, indicating a higher level of operational spending [3]. Company Overview - Kadestone Capital Corp. is a vertically integrated property company focused on the investment, acquisition, development, and management of residential and commercial income-producing properties, as well as the procurement and sale of building materials [5]. - The company operates five complementary business lines, including building materials procurement, property development, construction finance, asset ownership, and property management, aiming to become a market leader in the property sector [5].

Core Insights - Nextensa achieved solid results in Q3 2025, with a significant increase in net profit driven by development activities, lower financing costs, and a strengthened balance sheet [1] - The company completed three significant transactions in Q3 2025, reducing its debt ratio to 38.26%, which enhances its capacity for future sustainable urban development projects [1] Investment Properties - Rental income (like-for-like) increased by 5.67% during the first nine months of 2025, attributed to strong performance at the Tour & Taxis site and contributions from major renovations like Moonar in Luxembourg [2] - Net rental income decreased by 18% compared to the same period last year due to property sales completed in 2024 and 2025 [2] Development Projects - The performance of development projects remains consistent with the previous year, with 96% of the apartments in the second phase of the Park Lane residential project sold or reserved [3] - The Stairs project in Cloche d'Or is progressing on schedule, with residential sales gaining momentum [4] - A nine-year lease agreement was signed for the Terraces office building with a major financial institution, with construction expected to commence shortly [4] Sales Transactions - Nextensa sold its entire 8.99% stake in the Belgian REIT Retail Estates for proceeds of €89.6 million on August 28, 2025 [5] - The company sold 100% of Monteco BV for €28 million on September 17, 2025 [5] - A retail property in Ingeldorf, Luxembourg, was sold to the State of Luxembourg for €19.6 million on September 29, 2025 [5] Financial Performance - The net result (Group share) for Q3 2025 amounted to €35.2 million, or €3.48 per dividend-entitled share, compared to €20.9 million or €2.70 per share at the end of Q3 2024 [6] - The average cost of financing decreased from 2.86% to 2.79%, supported by an interest rate hedging strategy and a reduction in the financial debt ratio [7] Company Overview - Nextensa is a mixed real estate investor and developer with an investment portfolio valued at approximately €1.1 billion as of September 30, 2025, distributed across Luxembourg (31%), Belgium (52%), and Austria (17%) [8] - The company is involved in large-scale urban projects, including a mixed-use district in Tour & Taxis, Brussels, and a major urban expansion project in Cloche d'Or, Luxembourg [9]

Financial Performance - Q3 2025 - Net income decreased by 51% to $0.7 million, compared to $1.4 million in Q3 2024, due to expenses related to the Altman Logistics platform acquisition and lower operating profit in the Industrial and Commercial segment[6] - Pro rata NOI decreased by 16% to $9.5 million, compared to $11.3 million in Q3 2024[6] - Multifamily pro rata NOI decreased by 3% to $4.57 million[6, 10] - Industrial and Commercial NOI decreased by 25% due to vacancies and lease expirations[6] - Mining Royalty Lands NOI decreased by 26% to $3.756 million, primarily due to the absence of a one-time catch-up minimum royalty payment of $1.9 million in the prior year period[6] Financial Performance - Year-to-Date (YTD) 2025 - Net income decreased by 37% to $3.0 million, compared to $4.7 million YTD 2024, largely due to Altman Logistics platform acquisition expenses and higher G&A expenses[6] - Pro rata NOI decreased by 2% to $28.6 million, compared to $29.0 million YTD 2024[6] - Multifamily pro rata NOI increased by 0% to $13.937 million[11] - Industrial & Commercial NOI decreased to $3.053 million[15] - Mining & Royalties NOI decreased by 2% to $10.705 million[21] Strategic Developments - FRP entered a JV with Strategic Real Estate Partners to develop 377,892 square feet of industrial space in Lake County, FL[6] - FRP completed the acquisition of Altman Logistics Properties, LLC, expanding FRP's professional capabilities and deal flow[6] Sum of the Parts Analysis - The total value of FRP is estimated to be between $699 million and $789 million, or $36.59 to $41.29 per share[31] - Income Producing Properties total value range from $515.7 million to $577.5 million[28] - Development Pipeline FRP Equity Investment is $85.1 million[31]

Core Insights - FRP Holdings, Inc. reported a net income decrease of 51% for Q3 2025, primarily due to legal expenses related to the acquisition of Altman Logistics, despite higher mining royalties and improved results in joint ventures [5][6][22] - The company aims to focus on long-term earnings and NOI growth by leasing industrial and commercial vacancies and advancing development projects in key markets [4][6] Financial Performance - Net income for Q3 2025 was $662,000, down from $1,361,000 in Q3 2024, with adjusted net income up $281,000 excluding Altman acquisition expenses [7][22] - Pro rata NOI decreased by 16% to $9.5 million compared to $11.3 million in the same quarter last year, primarily due to a one-time $1.9 million catch-up payment received in Q3 2024 [5][8] - Total revenues for Q3 2025 increased by 1.3% to $10.775 million, driven by a 15.3% increase in mining royalty and rents [7][17] Segment Performance - The Multifamily segment's pro rata NOI decreased by 3% to $4.57 million, impacted by higher uncollectable revenue and increased operating costs [9][11] - The Industrial and Commercial segment experienced a 25% decrease in NOI due to tenant eviction and lease expirations, with total revenues down 15.5% [15][22] - The Mining Royalty Lands segment saw a 15.3% increase in revenue to $3.689 million, but net operating income decreased by 26% due to a significant drop in unrealized revenues [17][22] Strategic Developments - The company entered a joint venture with Strategic Real Estate Partners to develop two warehouses in Florida, indicating a strategic move to expand its industrial real estate footprint [5][6] - The acquisition of Altman Logistics is seen as a critical step for scaling operations and entering new growth markets, particularly in Florida and New Jersey [6][22] Nine-Month Highlights - For the first nine months of 2025, net income was $2.95 million, down 40.9% from $4.77 million in the same period last year, largely due to $2 million in acquisition expenses [21][22] - Total revenues for the nine months increased by 2.2% to $31.931 million, with lease revenue slightly declining by 2.1% [21][22]

Core Points - Ackermans & van Haaren NV has increased its voting rights in Nextensa NV/SA to 80.31% following an acquisition of additional shares on 28 October 2025 [1][4] - As of 28 October 2025, Ackermans & van Haaren holds 68.13% of the total shares in Nextensa NV/SA [2] - The total number of voting rights held by Ackermans & van Haaren NV increased from 11,927,747 to 12,964,747, representing a change from 79.90% to 80.31% of the voting rights [4][5] Company Structure - Ackermans & van Haaren NV is controlled by Scaldis Invest NV, which is under Belgian law [6] - The ultimate controlling shareholder is Stichting Administratiekantoor 'Het Torentje', which acts on behalf of the aforementioned companies [7] - Nextensa NV is a mixed-use real estate investor and developer, with a total investment portfolio value of approximately €1.1 billion as of 30 June 2025 [10][11] Market Information - Nextensa's investment portfolio is geographically diversified, with 32% in Luxembourg, 51% in Belgium, and 17% in Austria [10] - The company is listed on Euronext Brussels, with a market capitalization of €426 million as of 30 June 2025 [12]

Core Insights - Bridger Aerospace Group Holdings, Inc. has completed a sale-leaseback transaction of its headquarters and hangar facilities for approximately $49 million with SR Aviation Infrastructure, enhancing its financial flexibility and supporting fleet expansion [1][7]. Company Overview - Bridger Aerospace is one of the largest aerial firefighting companies in the U.S., providing services to federal and state agencies, including the U.S. Forest Service [6]. - The company is headquartered in Belgrade, Montana, and is committed to supporting local and state communities [2][6]. Transaction Details - The sale-leaseback involves a ten-year lease agreement, allowing Bridger to maintain its operational base for aerial firefighting missions while leveraging real estate value for capital [1][7]. - This transaction is viewed as a pivotal moment for the company, enabling it to prioritize fleet expansion and fulfill new contracts [2][4]. Strategic Goals - Bridger aims to set industry standards for efficiency and safety in aerial firefighting, focusing on acquiring advanced technology and aircraft to support new contracts with various government entities [4]. - The company emphasizes its commitment to financial resilience and community support through strategic partnerships [4]. About SR Aviation Infrastructure - SR Aviation Infrastructure, a subsidiary of SomeraRoad, specializes in acquiring and developing aviation-related real estate, addressing supply-demand imbalances in the sector [5]. - The Bridger Hangar Complex marks SRAI's third acquisition, expanding its portfolio of aviation assets [5].

Core Viewpoint - Ares Management and Slate Asset Management have agreed to acquire a portfolio of 36 properties in Poland valued at over €300 million from Trei Real Estate, highlighting confidence in the Polish real estate market and the European retail sector [1][3]. Company Overview - Ares Management Corporation is a leading global alternative investment manager with over $572 billion in assets under management as of June 30, 2025, and has been investing in Polish real estate for over two decades [6]. - Slate Asset Management has been active in the European real estate market since 2016, completing over €1 billion in essential real estate acquisitions in 2025 alone, and this acquisition marks its first investment in Poland [4][7]. Portfolio Details - The acquired portfolio consists of 36 recently developed and fully occupied convenience-led retail parks located in major Polish metropolitan areas, with income primarily derived from large regional retailers and essential goods providers [2][4]. - The assets are protected against inflation through CPI-linked lease agreements with tenants that have strong covenants [2]. Strategic Intent - Ares Management views the portfolio as an opportunity for additional value creation and plans to work closely with Slate to unlock its full potential [3]. - Slate Asset Management aims to enhance its exposure to high-quality essential real estate in Europe, focusing on convenience and necessity-based retail [4]. Transaction Timeline - The transaction is expected to close by December 31, 2025, pending customary and regulatory approvals [5].