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Ascendas REIT grows Australian portfolio by A$34M; Mirai closes ¥8.9B office buy

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

Australia

* Singapore-listed Ascendas Real Estate Investment Trust expanded its Australian portfolio to 32 properties by spending a total of A$36.3 million for its purchase of the property at No. 169-177 Australis Drive in Melbourne's Derrimut suburb, including purchase consideration and transaction costs. Ascendas noted in a news release that it utilized existing debt facilities to settle the A$34.0 million property transaction.

Vietnam

* VinaLand Ltd. reaped US$2.5 million in net proceeds from its divestment of a commercial project in Ho Chi Minh City. The selling price for Project SDC represents a 0.9% premium to the March 31 net asset value, according to a news release.

Malaysia

* Diversified property developer Axis Real Estate Investment Trust completed its 87.0 million-ringgit all-cash acquisition from Teraju Sinar Sdn. Bhd. of an industrial property in Shah Alam, Selangor, which comprises two adjoining industrial land parcels with four warehouse blocks, a double-story office building, a two-story canteen and two guard houses.

Japan

* Office real estate investment trust Mirai Corp. completed its nearly ¥8.89 billion agreement with GK Fushimi First LLC for the acquisition of the MI Terrace Nagoya-Fushimi office asset in Nagoya. Mirai signed the deal for the transaction May 9, along with the agreement for its ¥3.72 billion purchase of Global L-Seed Corp.'s Hotel Wing International Select Ueno/Okachimachi property in Tokyo.

China

* Perennial Real Estate Holdings Ltd., through its Perennial Xi'an Development 2 Pte. Ltd. subsidiary, is buying an additional 14.7% stake in Xi'an Perennial Cheng Tou East Real Estate Co. Ltd., the developer of one of the land plots comprising a healthcare integrated mixed-use development.

The subsidiary will be paying 90 million yuan to settle the deal, which would increase its shareholding in Xi'an Perennial to 65.7% from 51%.

Other geographies

* Centurion Investments (JS VII) Ltd., a newly incorporated indirect subsidiary of the Singapore-listed Centurion Corp. Ltd., entered into an £18.7 million agreement to buy the 127-bed student accommodation property at 121 Princess St. in Manchester, U.K. The property sold by PS 121 Ltd. will be managed under Centurion's student accommodation brand, dwell.

Additional coverage

China Vanke's May sales increase YOY to 42.88B yuan

Charter Hall Retail REIT forms Australian JV to buy Victorian asset for A$117M

Powerlong wins tender for Ningbo, China, land plot for 2.35B yuan

As of June 4, US$1 was equivalent to 6.41 yuan, ¥109.67 and 3.98 ringgit.