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Urbanest places Australian unit on the block; Sekisui House in ¥70B asset deals

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Urbanest places Australian unit on the block; Sekisui House in ¥70B asset deals

* M3 Capital Partners LLC is selling the Urbanest Australia student housing business, which could fetch approximately A$2 billion, according to a Dow Jones Newswires report that came out on The Australian. The company has a portfolio comprising 14 buildings and more than 6,500 beds that are mainly in Sydney and Melbourne, making it one of the largest purpose-built student accommodation providers in the country.

* Sekisui House Reit Inc. entered into deals totaling about ¥70.14 billion with Sekisui House Ltd. for the acquisition and leasing of three office buildings and four residential properties in Japan. The real estate investment trust intends to purchase the targeted assets June 10 using a combination of proceeds from its planned issuance of new investment units and cash on hand.

Australia

* Starwood Capital LLC agreed to provide a A$220 million loan facility for a 56-level student accommodation tower project in Melbourne's central business district being developed by Scape, The Australian Financial Review reported. The 175-meter tall building will have 812 student bedrooms, another 139 rooms allocated to accommodate young professionals, and a 10,000-square-meter commercial podium and retail space.

* CBRE Group Inc. commenced the expressions of interest process for the 3.86-hectare industrial property at 48-54 Kewdale Road in Perth. The property that will remain on offer until June 27 provides a gross lettable area of 20,523 square meters.

Singapore

* Eagle Hospitality Trust is expected to begin trading on the Singapore Stock Exchange May 24 following the completion of its IPO of 580,558,000 stapled securities priced at 78 U.S. cents apiece, according to a news release. The property trust backed by investors including DBS Bank Ltd. and Gold Pot Developments Ltd. owns an approximately US$1.27 billion portfolio of hotel properties across the U.S.

* A joint survey on real estate fund managers conducted by three real estate industry associations found that CapitaLand Ltd. earmarked the largest amount to Asia-Pacific strategies in 2018 among Singapore-based property companies with an allocation of US$55.9 billion in AUM for the region, The (Singapore) Business Times reported.

Respectively completing the list's top five are GLP Pte. Ltd., Mapletree Investments Pte. Ltd., Ascendas-Singbridge Pte. Ltd. and Keppel Capital Pte. Ltd.'s Alpha Investment Partners.

Hong Kong and China

* Midea Real Estate Group Ltd. acquired a 141,700-square-meter land parcel in Jiangsu, China, for 2.62 billion yuan, with a premium of 36.46%, Guandian reported. The developer also acquired two land parcels in Shenyang for 1.1 billion yuan.

* Country Garden Holdings Co. Ltd. outbid other developers for a 66,700-square-meter residential and commercial land parcel in Luoyang city in China's Henan Province, with a 1.4 billion yuan bid, Guandian reported. The land broke various records in the city including the most expensive land, the highest price per square meter, and the highest premium rate.

* China Real Estate Association's 2019 research report ranked China Evergrande Group, China Vanke Co. Ltd. and Country Garden as the top three developers among 218 listed property companies, The (Hong Kong) Standard reported. Trailing the trio on the ranking are Poly Real Estate, China Overseas Land & Investment Ltd., Sunac China Holdings Ltd., Longfor Group Holdings Ltd., Seazen Holdings Co. Ltd., China Resources Land Ltd. and Guangzhou R&F Properties Co. Ltd.

* The Chinese Academy of Social Sciences predicts that home prices in China's bigger cities will increase 7.6% in 2019, buoyed by a relatively short supply of new residential properties, the South China Morning Post reported. In its report, the think tank also said sales by floor space in the 70 cities it monitors will potentially decrease 0.84% on an annual basis during the forecast period.

Japan

* ORIX Corp. will open Cross Office Roppongi in Tokyo July 10 as its sixth serviced office, Jutaku-Shimpo-Sha reported. The company launched the Cross Office chain of serviced offices in 2009 with the opening of the first branch in Shibuya, Tokyo.

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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, Emily Lai and Jaekwon Lim contributed to this report.