Is ESR building its own 'mini pan-Asian GLP'?

ARA Asset Management's (ARA) acquisition of CWT's shareholdings in the Reit and property managers of Cache Logistics Trust this week comes as an opportune time for both buyer and seller.

For the seller CWT, this raises cash that would be welcomed by its new parent the debt-ridden Chinese conglomerate HNA Group.

HNA has undertaken a series of asset divestments and restructuring in order to repay its borrowings.

While it was not announced how much CWT would receive from the sale of the managers, assuming…