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Macquarie nears A$300M farm deal; Zall Smart's H1'18 profit grows YOY

* Macquarie Group Ltd. is close to securing a nearly A$300 million deal with Qatar Investment Authority for the acquisition of Hassad Australia Pty. Ltd.'s remaining farm assets in Australia, The Australian Financial Review reported. More than 100,000 hectares of prime farming land is at the center of the potential transaction, which is on track to become the largest farmland deal in the country.

* Zall Smart Commerce Group Ltd.'s profit attributable to equity shareholders of the company increased to approximately 1.24 billion yuan in the first half of 2018, compared with the 1.07 billion yuan recorded in the prior-year period. Revenue for the Chinese investment holding company also jumped during the comparable period to about 18.49 billion yuan from 2.32 billion yuan.

Hong Kong, China and Taiwan

* China Aoyuan Property Group Ltd. is planning to separately list on the Hong Kong stock exchange its Aoyuan Healthy Life Group Co. Ltd. subsidiary. The Chinese real estate company noted in a filing that it has secured permission from the bourse to proceed with the proposed spin-off of the unit, which is a property management service and commercial operational service provider in China.

* Australia's Lendlease Corp. Ltd. is looking to secure four to five more projects in China's aged care sector, Steve Lombardo, the company's Asia CEO, told the AFR. Completion of the target would see it manage 5,000 senior living units, with an aim to kick-start the move with a new platform in China.

* Victor Lui, deputy managing director of Sun Hung Kai Properties Ltd., was cited by The (Hong Kong) Standard as saying that since Aug. 26, the developer reaped over HK$7 billion from the sale of nearly 500 units at its Cullinan West II project in Hong Kong.

* Certain subsidiaries of ZH International Holdings Ltd. won the separate public tenders for two residential land parcels in China after offering to pay an estimated 746.3 million yuan and 656.4 million yuan.

The company's Henan Zensun Huafu Real Estate Co. Ltd. subsidiary was awarded with the rights for a 54,297.57-square-meter site in Zhengzhou Aug. 31, while its Henan Xianghu Real Estate Co. Ltd. unit secured the tender to a 46,888-square-meter plot in Wuhan on Sept. 1.

* Redco Properties Group Ltd. is planning to redeem US$200.0 million of its 7% senior notes due 2018, which were issued at an aggregate principal amount of US$250.0 million on Nov. 9, 2017. The Chinese property company said it will use proceeds from its previously announced issuance of US$200 million in 11.0% senior notes due Aug. 29, 2020, to finance the proposed redemption.

* Mitsui Fudosan Co. Ltd. will open its third direct-managed hotel in Taiwan located near the Taipei Songshan Airport in 2024, NNA Asia reported. The 14-level building will sit on a 1,100-square-meter site and will span 10,500 square meters with 185 rooms.

Singapore

* ESR-REIT's proposed acquisition of Viva Industrial Trust was supported by 94.2% of the total votes cast by its shareholders during an Aug. 31 extraordinary general meeting. The merger scheme will be heard in court Sept. 19, and its implementation is expected to commence Oct. 3.

* Frasers Commercial Trust closed its S$216.8 million divestment of the commercial building at 55 Market St. in Raffles Place to an unnamed buyer. The completed transaction, from which the trust expected a net gain of roughly S$76.5 million, centered on a 16-story property that features 71,796 square feet of total net lettable area.

Australia and New Zealand

* A 50/50 joint venture between Abacus Property Group and Heitman LLC is buying the fully-leased K1 building at 1 King St. in central Brisbane's Fortitude Valley suburb for approximately A$170 million.

* Frasers Logistics & Industrial Trust entered into a A$62.6 million agreement with a subsidiary of its sponsor, Frasers Property Ltd., to purchase the properties at 3 Burilda Close in Wetherill Park, New South Wales, and another at 103-131 Wayne Goss Dr. in Berrinba, Queensland.

Upon its completion, the deal would expand the Singaporean trust's portfolio to approximately 1.9 million square meters of gross lettable area, having a valuation of about A$2.9 billion as of June 30.

* New Zealand's new law that seeks to prevent foreigners from buying existing homes in the country could potentially cause a decrease in real estate prices, according to The Australian. Gavin Lloyd, CBRE national director of residential projects, said the regulation will prompt offshore investors to buy new-build homes and could also have some effect on the sale of old luxury houses in Queenstown, in the country's South Island.

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The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce and John Chan contributed to this report.