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Aseana updates on portfolio exit; Hankyu to buy 1st asset in Fukuoka, Japan

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

Southeast Asia

* Aseana Properties Ltd. updated on the ongoing sale of all its assets, initiated after a June 22, 2015, shareholders vote.

The London-listed company said it has completed the divestment of its properties in Malaysia and Vietnam. In Kuala Lumpur, Aseana sold its remaining apartment at the Tiffani Mont' Kiara project for US$950,000 and six units at Seni Mont' Kiara for US$3.0 million.

In Ho Chi Minh City, it sold a 1.23-hectare site and a 1.19-hectare site at the International Healthcare Park for US$5.5 million and US$7.7 million, respectively.

Japan

* Hankyu REIT Inc. is making its maiden acquisition in the Fukuoka area with the ¥2.76 billion purchase of the 166-room Vessel Inn Hakata Nakasu hotel. The company said it will exercise the purchase agreement March 29, 2018.

Hong Kong

* Sunlight Real Estate Investment Trust, through two of its wholly owned companies, agreed to sell its entire interest in the Palatial Stand Property in Kowloon for HK$101 million. Multimark Investment Ltd. and Country Max Development Ltd. are selling the property which comprises shops, offices, advertising spaces and commercial common areas and facilities — to an independent third party with completion expected on or before Jan. 25, 2018.

Net proceeds from the planned divestment, estimated at HK$99.7 million, will be used for the trust's general working expenditures.

Australia

* Frasers Logistics & Industrial Trust wrapped up its acquisition of the newly developed Stanley Black & Decker Facility in the Melbourne suburb of Keysborough from Frasers Centrepoint Ltd. The company said the consideration paid for the facility, which forms part of a seven-asset portfolio, was adjusted to nearly A$31.1 million from A$30.9 million.

Additional coverage

Link REIT to sell HK$23B mall portfolio under capital recycling strategy

CapitaLand, CapitaLand Retail form JV for 3.36B yuan purchase of mall in China

Activia Properties to acquire 3 Japanese assets for ¥23.57B

China Evergrande to buy Ying Li project in Chongqing, China, for 3.29B yuan

Report: Blackstone secures A$715M facility to buy Goodman logistics portfolio

As of Nov. 28, US$1 was equivalent to ¥111.32.