* Global Logistic Properties Ltd. formed Harvest Logistics Holdings LP, a new U.S.-focused property fund. Otherwise known as GLP US Income Partners III, the fund will be the company's investment vehicle for the planned acquisition of logistics properties worth US$1.1 billion.
* Saurabh Chawla, DLF Ltd. senior executive director for finance, said the company's promoters received two offers from marquee investors for a 40% stake in DLF Cyber City Developers Ltd. Due diligence for the rental business has also been completed, the Press Trust of India reported. The promoters expect to sign a deal worth between 120.00 billion Indian rupees and 140.00 billion rupees in the first quarter of 2017.
Australia and New Zealand
* Stockland and Lendlease Corp. Ltd. are among several property developers that are believed to be included in the list of six invited bidders for the A$150 million sale of the 286-hectare Minta Farm in Berwick, Melbourne, The Australian Financial Review reported.
* A Lendlease joint venture is tipped to be in pole position for the more than A$70 million acquisition of Heathley's Spring Street tower in Sydney, The Australian reported.
* Charter Hall Retail REIT acquired ISPT's Arana Hills Plaza and an adjoining Shell petrol station in Brisbane for A$67.1 million, reflecting a 6% cap rate, the AFR reported.
* STR reported that hotels in Sydney recorded positive year-over-year results in three key metrics in November. RevPAR increased 4.5% to A$222.33, average daily rate rose 3.4% to A$242.24 and occupancy inched up 1.1% to 91.8%.
* Over in New Zealand, Real Estate Institute of New Zealand data showed that home prices in November declined 0.2% month over month, while Auckland saw a 4% decrease, Reuters reported. Year over year, New Zealand and Auckland saw respective increases of 13% and 11%.
Hong Kong and China
* Fitch Ratings saidCheung Kong Property Holdings Ltd.'s plan to acquire CK Hutchison Holdings Ltd.'s aircraft leasing business aligns with the property developer's exploration of other investment opportunities beyond Hong Kong and plan to diversify its recurring income sources. As such, the rating agency sees the transaction as neutral to the developer's rating.
* Guangzhou R&F Properties Co. Ltd. said that Trillion Chance Ltd. plans to redeem in full US$1.00 billion of 8.50% senior notes due 2019 on Jan. 10, 2017. The notes will be redeemed at a price equal to 104.25% of the principal amount of the notes, plus accrued and unpaid interest, if any, to the redemption date.
* Hong Kong’s Town Planning Board declined Swire Properties Ltd.'s proposed amendments to its planned redevelopment of the Taikoo Place complex, the South China Morning Post reported. The changes included an additional 17 meters in height to the approved 212-meter tall Two Taikoo Place.
Despite the rejection, Swire reportedly said the HK$15 billion project approved in 2011 is on schedule. One Taikoo Place is expected to be completed in 2018, while Two Taikoo Place will open in 2021.
* Country Garden Holdings Co. Ltd., its subsidiaries, joint ventures and associates achieved a new sales record, as it logged approximately 300 billion Chinese yuan of contracted sales as of Dec. 11, up about 143% from the year-ago period.
Japan
* Tokyo Tatemono Co. Ltd. has begun work for the redevelopment of the former site of the Toshima ward office in Tokyo's Ikebukuro, Tokyo's The Nikkei reported. Three buildings will be built by May 2020, including a 33-story office building.
* DoubleDragon Properties Corp. upsized the issuance of first-tranche notes under its 15 billion-Philippine-peso shelf. The company will offer 5.3 billion pesos of bonds Dec. 15 as a result of strong demand from various investors, according to a filing.
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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. Articles and links are correct as of publication time.
Cam Nones and Jaekwon Lim contributed to this report.