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HNA sells San Fran tower; Q1's top Asian PE investor; China Vanke lists notes

* HNA Group Co. Ltd. sold its office tower at 123 Mission St. in San Francisco to Northwood Investors LLC for approximately US$300 million amid its ongoing asset-divestment spree, The Real Deal reported, citing an unnamed source familiar with the deal.

In March, the U.S. arm of Hong Kong-based private equity firm Gaw Capital Partners was reported to be in discussions with HNA's HNA Group (Hong Kong) Co. Ltd. subsidiary for the purchase of the building, which became the Chinese conglomerate's first property on the West Coast, following a US$255 million transaction in August 2016.

* GIC Pvt. Ltd. was named by PitchBook as the most active Asian private equity investor in the first quarter of 2018 after it completed at least 11 private equity transactions, DealStreetAsia reported. Worldwide, the US$344 billion Singaporean wealth fund was ranked 18th following the likes of Genstar Capital and Warburg Pincus.

* China Vanke Co. Ltd.'s Vanke Real Estate (Hong Kong) Co. Ltd. and Swire Properties Ltd. are separately seeking the Hong Kong stock exchange's approval for the listing of their respective US$650.0 million floating rate notes offering and US$4.00 billion medium-term note program. Both listings are expected to take effect May 28.

Philippines

* The Philippine stock exchange approved DM Wenceslao and Associates Inc.'s plan to launch an IPO June 29 to raise as much as 17.88 billion pesos in proceeds, The Philippine Star reported, citing a term sheet filed with the bourse.

The proposed offering will involve the issuance of 679.2 million common shares priced at 22.90 pesos apiece for estimated proceeds of 15.55 billion pesos. It also comes with an overallotment option for 101.876 million more shares.

Hong Kong and China

* An unusual decrease in price and increase in the trading volume of Wuzhou International Holdings Ltd.'s shares prompted the Hong Kong-listed company to halt the trading of its stock on the Hong Kong bourse. The halt took effect May 25 and will run until after the release of an announcement related to the aforementioned unusual share movements.

* Sun Hung Kai Properties Ltd. is expected to launch in July the pre-sales of units at its St. Martin residential project in the Pak Shek Kok district of Tai Po, Hong Kong, The (Hong Kong) Standard reported. Upon its completion, the development will provide 804 apartments.

Meanwhile, up to 2,000 applications were received for the first 255 flats being offered in K. Wah International Holdings Ltd.'s Solaria housing project in Pak Shek Kok. The turnout represents an 8x oversubscription, according to The Standard.

* Beijing listed a 129,200 square meter land for bidding starting at 3.6 billion yuan, The Beijing News reported. The land is earmarked for subsidized housing construction.

Australia

* Mirvac Group is buying 278 hectares of land in Melbourne's Donnybrook suburb from Boral Ltd. for an undisclosed amount. The diversified developer is expected to incorporate the property to its Olivine estate.

* Chinese-backed developer Aqualand is considering deferring the launch of its over A$1 billion residential development at 168 Walker St. in Sydney's north amid an ongoing review of the plans for the project. According to The Australian, Aqualand has permission to build a four-tower complex with 415 luxury apartments on the site that it bought for A$157.5 million in 2015.

* The New South Wales government is expecting north of A$120 million from the sale of the Sirius public housing building in Sydney, The Australian Financial Review reported. Marketing agent Savills is overseeing the international sales campaign for the property at 2-60 Cumberland St., which houses 79 residential units in an 11-story building.

Singapore

* CapitaLand Commercial Trust is issuing 130,000,000 new units May 28 pursuant to its S$1.676-per-unit private placement. A portion of the proceeds arising from the issuance will be directed toward the office-focused real estate investment trust's planned €356.0 million purchase of the Gallileo commercial property in Frankfurt under a partnership with its parent, CapitaLand Ltd.

* The collective sale market in Singapore are getting two more addition with the separate launches of the public tenders for the 138-unit Leonie Gardens and the 120-unit Lakeside Apartments properties, The (Singapore) Business Times reported.

An S$800 million price tag was attached to the 410,431.80-square-foot Leonie Gardens for its tender that will close June 21, while preparations are still underway for the potential S$240 million en-bloc sale of the 134,176-square-foot Lakeside Apartments.

* Singapore's Urban Redevelopment Authority is planning to enlist eight shophouses along the city's Jalan Besar stretch for conservation. The local authority had been studying the area and is considering 24 more buildings to include in the list.

Japan

* East Japan Railway Co. and Chiba Station Building Co. Ltd. will open the Perie Chiba shopping area at the Chiba Station June 28, with 277 tenant stores occupying that section of the station complex, Tokyo's The Nikkei reported.

Other real estate news

* Singaporean REIT Frasers Logistics & Industrial Trust closed its roughly €325.0 million acquisition of 17 properties in Germany and another four in the Netherlands from its parent, Frasers Property Ltd.

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, Emily Lai and Jaekwon Lim contributed to this report.

As of May 25, US$1 was equivalent to 52.69 Philippine pesos, S$1.34 and 6.39 Chinese yuan.