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Charter Hall, GPT land on Blackstone short list; China Vanke eyes O1 stake

* Australia-listed developers Charter Hall Group and GPT Group are two of the six bidders who have been short-listed for Blackstone Group LP's more than A$800 million half-stake in the Westpac Place office building in Sydney, The Australian Financial Review reported. Also in contention are superannuation fund ISPT, investment manager AMP Capital, financial services company JPMorgan and global funds giant Morgan Stanley.

* Hong Kong-listed developer China Vanke Co. Ltd. is still in discussions for the potential acquisition of a stake in Russian developer O1 Properties Ltd., which owns a US$4 billion portfolio of 15 shopping centers in Moscow. Reuters, citing China Vanke, reported that the pair is yet to reach a consensus.

* A report by Cushman & Wakefield found that inward investments from China to the commercial real estate market of the U.S. decreased 55% year over year in 2017 to US$7.3 billion. Beijing's strict implementation of its capital control measures and the availability of more attractive opportunities in other countries were among the factors identified in the report to have contributed to the U.S. investment slowdown.

Hong Kong and China

* Growing scrutiny from the Chinese government, combined with pressure to tackle the company's debt, prompted CEFC China Energy Co. Ltd. to reportedly seek buyers for its entire global real estate portfolio, which has an estimated total book value of more than 20 billion yuan.

The sale of the portfolio, which comprises roughly 100 real estate projects in China, Europe and the U.S., puts CEFC China on the path of an asset-selling spree that is also being undertaken by other debt-laden Chinese conglomerates, such as HNA Group Co. Ltd. and Anbang Insurance Group Co. Ltd.

* Shareholders of Yuexiu Property Co. Ltd. approved the resolution to exercise an option to purchase for 3.32 billion yuan a 92% stake in the project company overseeing the development of a 147,240-square-meter mixed residential and commercial project in Wuhan, China.

* Agile Group Holdings Ltd. is acting as guarantor to two loan facilities provided by separate lenders to its Wuhan Changkai Property Development Co. Ltd. joint venture in the respective amounts of 2.70 billion yuan and 1.40 billion yuan.


* Sasseur Real Estate Investment Trust will make its debut on the Singapore bourse March 28 at 9 a.m. local time. It follows the completion of the trust's IPO, from which it raised S$396.0 million, according to a release.

* Lian Beng Group Ltd. completed the consolidation of all its property development subsidiaries under its SLB Development Pte. Ltd. unit. The consolidation is part of Lian Beng's plan to spin off and list its property development business on the Singapore stock exchange.

* Oxley Holdings Ltd.'s Oxley Jasper Pte. Ltd. subsidiary agreed to buy all the units in the Ampas Apartment freehold development at 5 Jalan Ampas for a total consideration of S$95.0 million. The listed developer said it will bankroll the proposed purchase using internal resources and bank loans.

* HSBC Institutional Trust Services (Singapore) Ltd., the trustee of Ascendas Real Estate Investment Trust, obtained a S$200 million committed revolving credit facility due in 2021, which the trust intends to use for debt refinancing.

* The initial five-year term of Mapletree Commercial Trust's S$200.0 million bilateral loan facility secured in January 2014 was extended until 2023.


* Inheritance Capital Asset Management paid Axiom Properties Ltd. A$42.5 million for a 50% stake in the Churchill Centre North shopping center in Adelaide. The execution of the pair's deal for the asset was carried out on the back of the satisfactory completion of the buyer's due diligence on the retail property.

* Developer Golden Horse bought for nearly A$100 million the entire 10,000-square-meter retail strata of the Park Sydney mixed-use project that it is jointly developing in Sydney's Erskineville suburb with Greenland Australia, the AFR reported.

* Data released by consultant Urbis showed that apartment launches across Australia's capital cities fell on an annual basis in 2017 to 128 from 248, the AFR reported. The decrease was attributed to a number of factors that include the introduction of new state taxes and surges, which are believed to have caused a reduction in the number of offshore buyers.

* Also on the downward path are new home sales in the country. The Australian, quoting Housing Industry Association senior economist Shane Garrett, reported that a 16.3% year-over-year dip in Queensland new home sales and a 9.9% annual drop in Western Australia dragged down Australia's nationwide home sales to a 0.7% year-on-year decrease in February.


* Sekisui House Residential Investment Corp.'s absorption-type merger with Sekisui House Reit Inc. is expected to be effective May 1 after the proposal gained approval from the former's unit holders.

* Diversified real estate investment trust Hulic Reit Inc. signed an ¥11.00 billion agreement with Hulic Co. Ltd. for the purchase of the Hulic Ginza 7 Chome Building office asset in Tokyo. Completion of the proposed acquisition is expected March 29.

* Nippon Building Fund Inc. is borrowing ¥13.00 billion from a syndicate of banks to partially cover the cost of its planned ¥9.78 billion acquisition of the Osaki Bright Plaza and additional interest in the Osaki Bright Core property in Tokyo from Mitsui Fudosan Co. Ltd.

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.

Rollen Catorce contributed to this report.

As of March 27, US$1 was equivalent to 6.28 yuan, ¥105.71 and S$1.31.