This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.
Australia
* Eureka Group Holdings Ltd.'s 50/50 joint venture with a group of private investors acquired a five-asset portfolio of senior rental villages across Tasmania from Ingenia Communities Group for A$18 million. Settlement of the deal, which involves two Ingenia Gardens-branded villages in Hobart, two more in Launceston and one in Devonport, is expected in April.
The transaction will add 254 units to Eureka Group's existing portfolio of villages and will help fund Ingenia's investments in other projects Down Under.
* Two subsidiaries of Singapore-listed developer CapitaLand Ltd. sold their combined 100% stake in Citadines Ahmedabad Aparthotel Pte. Ltd., owner of a land parcel in Ahmedabad that CapitaLand said has no development activities.
Ascott International Management Pte. Ltd. and Ascott International Management (2001) Pte. Ltd. respectively divested their total 5,321,300 equity shares priced at 10 Indian rupees apiece to rake in 528.5 million rupees from the divestment.
China
* Hangzhou Binjiang Real Estate Group Co. Ltd. placed the winning 183.0 million yuan bid for a 140,601-square-meter plot in the city of Huzhou in Zhejiang province. The site to be acquired is zoned for commercial and entertainment purposes, with land-use rights running for a 40-year term.
* Langold Real Estate Co. Ltd. is investing 100 million yuan for a 50% stake in a real estate company held by its controlling shareholder. The target, which will eventually become a 50/50 joint venture, is overseeing the development of a mixed-use land plot in the Ba Nan district of Chongqing, with a total area of 171,831 square meters and a construction area of 525,043 square meters.
Cambodia
* Diversified property developer Kingsland Global Ltd. secured a US$9.0 million financial boost through My Square (SG) Pte. Ltd.'s subscription of shares in Kingsland subsidiary Kingsland Ventures (GTEX) Pte. Ltd. The amount will be used for the development of the Phnom Penh City Centre mixed-use project, which comprises office towers, restaurants, banking services facilities, medical centers, a hotel, a convention center and an IT and media hub.
Additional coverage
Charter Hall to fetch up to A$140M from Perth, Australia, office sale
A$200M sale of Blackstone's office building puts Centuria up against Primewest
Singapore condo in prime residential district kicks off S$146M en bloc efforts
C&D International subsidiary to purchase 40% stake in Chinese property developer
China Resources Land discloses 12.30B yuan of February land acquisitions
Celest Wong contributed to this report.
As of March 15, US$1 was equivalent to 6.32 yuan and 64.98 Indian rupees.
