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Equinix inks A$1B deal for Metronode; C C Land consortium buys into Gotham City

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Equinix inks A$1B deal for Metronode; C C Land consortium buys into Gotham City

* Ontario Teachers' Pension Plan's search for a buyer for its Metronode data center business has ended with U.S.-based Equinix Inc. agreeing to purchase the Australian company in an all-cash transaction worth about A$1.04 billion.

To secure Metronode, Equinix outbid other sale, including Canada's Brookfield, Singapore's ST Telemedia and Switzerland's Partners Group Holding AG.

* A four-company consortium involving C C Land Holdings Ltd. entered into a deal to buy a majority stake in the 40 Leadenhall skyscraper development in the City of London's financial district, Bloomberg News reported, citing two people with knowledge of the plan. TH Real Estate is selling the interest in the office project nicknamed Gotham City, which will have 905,000 square feet office space and designed to house roughly 10,000 people.

* The Los Angeles County Employees Retirement Association is looking to double its real estate investment in Asia to US$100 million by seeking approval for a plan to inject up to US$50 million into AEW Value Investors Asia III fund, IPE Real Assets reported.

Singapore

* Nesta Investment Holdings Ltd. secured the approval of the High Court of Singapore for its S$16 billion offer to privatize Global Logistic Properties Ltd. Dec. 15. The consortium's privatization of GLP is expected to take effect Jan. 10, 2018, with the settlement of the deal scheduled Jan. 19, 2018.

* Amid GLP's ongoing privatization, Fitch Ratings placed its BBB+ long-term foreign-currency issuer-default rating on the company, as well as its BBB+ senior unsecured rating for of all of the company's outstanding bonds on rating watch, with negative implications. The ratings will remain under observation until GLP's privatization is completed, allowing the rating agency to assess the company's deleveraging plan.

* KBS Strategic Opportunity REIT Inc. subsidiary KBS SOR Properties LLC sold 15,714,100 of the units that it owns in Keppel-KBS US REIT for 88 U.S. cents apiece.

Hong Kong and China

* Times Property Holdings Ltd.'s board is changing its name to Times China Holdings Ltd., subject to shareholders' approval. The board, which also suggested a new Chinese name for the company, said the new name will reflect a fresh corporate identity for Times Property.

* Hong Kong developer Sino Land Co. Ltd. is planning to convert the 77-year-old former headquarters of electric company CLP Group in Hong Kong's Mong Kok district into a residential project comprising 175 units in three 25-story buildings, according to the South China Morning Post.

The publication also noted that the company, which won the tender for the site, became Hong Kong's most active land buyer in 2017 with more than HK$22 billion of spending for seven sites.

* Shanyuan Co. Ltd. is marketing a 27.5% stake in a China-based real estate subsidiary of 388.1 million yuan, Reuters reported.

* China Logistics Property Holdings Co. Ltd. will further boost its 8% senior notes due 2020 series with a planned issuance of another US$100 million. Gross proceeds from the proposed additional offering, estimated at roughly US$103.1 million, will be used by the company to repay existing offshore debt and for general corporate purposes.

* Yuexiu Property Co. Ltd. is planning to publicly offer up to 7.00 billion yuan of guaranteed interest-bearing bonds as part of a strategy to diversify its portfolio and ultimately improve operations.

* Hong Kong's Lands Department will launch Dec. 22 the public tender for a roughly 5,354-square-meter site in Kwun Tong, Kowloon, Hong Kong. Bidding for the site will close Jan. 19, 2018.

* The agency also opened the public bidding for New Kowloon Inland Lot No. 6579 in Kowloon, Hong Kong. The private residential site has an area of approximately 11,262 square meters.

Indonesia

* Shareholders of PT Lippo Karawaci Tbk approved the company's proposed issuance of up to 1,450,000,000 shares at 635 rupiah each in a bid to raise as much as 600 billion rupiah. Completion of the company's fourth rights issue is expected by the end of the first quarter of 2018.

India

* Real estate developer Jaiprakash Associates Ltd. is planning to divest five Jaypee Hotels and Resorts-branded assets for 25.00 billion Indian rupees, The Economic Times of India reported, citing a person aware of the development.

Japan

* Mitsui Fudosan Co. Ltd. acquired an office building in Nihonbashi Honcho, Chuo Ward from Nishimatsu Construction Co. Ltd., the Nikkei BP reported.

* Seven developers, which include Mitsui Fudosan Residential Co. Ltd., Nomura Real Estate Development Co. Ltd. and Mitsubishi Jisho Residence Co. Ltd., are jointly developing the residential and commercial complex project on the 17.6-hectare residential land in Wakaba Residence Area of Makuhari Shinntoushin, Chiba City, Kensetsutsushin Shimbun reported.

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.

Rollen Catorce and John Chan contributed to this report.

As of Dec. 15, US$1 was equivalent to 6.61 yuan, 64.09 Indian rupees, 13,577.00 Indonesian rupiah and S$1.35.