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Gaw Capital, Blackstone ink HK$12B Link REIT deal; Warburg's US$1B JV eyes China

S&P Global Market Intelligence offers our top picks of Asia-Pacific real estate news stories and more published throughout the week.

Shopping before the holidays

* A Gaw Capital Partners-led consortium involving Blackstone Group LP and Goldman Sachs Group Inc. is buying a portfolio of 12 shopping centers in Hong Kong from Link Real Estate Investment Trust under a roughly HK$12.01 billion agreement. Once completed, the divestment is expected to deliver a net gain of about HK$2.79 billion to the listed REIT.

* HNA Group Co. Ltd. is marketing 10 mainland China assets that are collectively worth 7.6 billion yuan amid its continuous efforts to pare down its debt. Among the assets being sold is the roughly 200,000-square-meter Beijing Haiyu Square commercial complex that is expected to fetch 2.65 billion yuan.

* Hong Kong's Lands Department awarded the tender to an approximately 27,444-square-meter data center site in the Tseung Kwan O district of the New Territories in the special administrative region to the Easy Vision Development Ltd. subsidiary of Sun Hung Kai Properties Ltd.'s Sunevision Holdings Ltd. tech unit after it placed the winning bid of almost HK$5.46 billion.

* Chinese tech company LeEco Inc. is planning to launch a public auction for a 50,000-square-meter shopping center in Beijing's Sanlitun area on Alibaba Group Holding Ltd.'s Taobao e-commerce platform. The Beijing Shimao Gongsan Plaza will be on offer Jan. 7, 2019, with an asking price of 2.3 billion yuan.

* Allianz Group's Allianz Real Estate closed a S$537.3 million deal with Keppel REIT for the acquisition of a 20% stake in Ocean Properties LLP, which owns the 43-story Ocean Financial Centre office tower in Singapore. The completed transaction is part of the integrated financial services provider's plan to allocate 5% to 10% of its real estate investment in the Asia-Pacific region.

The gift of a goal

* Indian developer IndoSpace closed the fundraising for the biggest logistics property fund in the country after receiving US$580 million worth of total equity commitments. The IndoSpace Logistic Parks III real estate fund secured sufficient financing to allow it to eventually quadruple its portfolio to 120 million square feet from a current approximately 30 million square feet.

* Still in India, Singapore-based logistics provider GLP Pte. Ltd. established a joint venture with Everstone Group that will inject approximately US$500 million into strategies and technologies targeted toward improving the logistics ecosystem in the country.

* Warburg Pincus LLC, in a partnership with China's Hande Group, is planning to invest US$1 billion into a joint venture vehicle that will target special situations investments in Chinese property developments. The team-up intends to amass US$5 billion worth of assets under management over the next three years.

It's not all just chatter Down Under

* Charter Hall Group started negotiations with Brookfield Properties Ltd. for the more than A$800 million purchase of 50% stakes in each of two office buildings in Sydney after its Charter Hall Prime Office Fund paid A$98.5 million to buy the freehold title to the A$1.8 billion Chifley Tower and Plaza in the city's financial district.

* Stockland is in discussions to sell the unsold portion of its A$700 million The Grove Estate residential development in Melbourne. The Australian arm of Singapore-based property company Frasers Property Ltd. is believed to be negotiating a potential deal with the selling REIT.

* Singapore sovereign wealth fund GIC Pte. Ltd., through the Primewest Counter Cyclical Trust, bought the Exchange Tower office building in Perth for A$326 million from Primewest Management Ltd. and AMP Capital Wholesale Office Fund.

* Forise Holdings is considering various options for its A$1.2 billion Spirit residential development in Surfers Paradise on the Gold Coast. The Chinese developer appointed Canford Property Group Ltd. as it considers either selling or finding a joint venture partner for the 89-floor luxury project.