This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.
* Nippon REIT Investment Corp. was granted by its sponsor, Sojitz Corp., the right of first negotiation to a commercial property in Tokyo that is on sale for ¥3.11 billion. The right of negotiation period will run for two years, starting from Sept. 30, the company said in a filing.
* Japan Real Estate Investment Corp. is forking out nearly ¥333.1 million for its proposal to purchase on Nov. 1 the AER property in Sendai City in the Miyagi prefecture. The asset, which will be bought from an unnamed individual, comprises a 73,186.57-square-meter building sitting on a 6,591.05-square-meter land.
* United Urban Investment Corp. is planning to purchase for ¥50 million the issued preferred equity securities of KICAM Musashimurayama Tokutei Mokuteki Kaisha, a logistics facility in Tokyo's Tama area. The Sanritsu Corp.-leased property, with four floors above ground, has a total floor space of roughly 9,900 square meters.
* Wealth manager AMP Capital signed on to lease 9,720 square meters of space in one of the buildings in Lendlease Corp. Ltd.'s Melbourne Quarter development at 699 Collins St. The One Melbourne Quarter building is expected to be complete in September 2018, spanning roughly 130,000 square meters that could accommodate 12,000 workers.
* Newly listed Convenience Retail REIT agreed to buy for A$5.25 million the Durack Service Centre in Brisbane, which is anchored by 7-Eleven Stores Pty. Ltd. The off-market acquisition, which will mark the real estate investment trust's maiden purchase after listing, is expected to be completed November-end. In a news release, the REIT said it will finance the acquisition using the available headroom in its existing debt facilities.
* The court hearing in relation to the New South Wales government's compulsory acquisition of Desane Group Holdings Ltd.'s 5,274-square-meter property at 68-72 Lilyfield Road in the Sydney suburb of Rozelle has been rescheduled to Feb. 26, 2018, from Nov. 20. The new schedule was announced in an Oct. 6 hearing at the New South Wales Supreme Court, during which the state government's application to set aside some matters included in previous orders were rejected.
The state government wants to purchase the property for the Sydney Motorway Corp. Pty. Ltd. and the Roads & Maritime Services, as the duo intends to include Desane's property in the stage three development of the M4-M5 Link of the WestConnex Motorway.
* Lippo Malls Indonesia Retail Trust, via its PT Anugrah Prima subsidiary, signed a conditional transfer agreement with PT Pilar Utama Sukses in relation to the proposed transfer of the retail wing adjacent to the Plaza Medan Fair, which was acquired by the Trust on Dec. 6, 2011.
As part of the agreement, PT Anugrah Prima will become the owner of the retail wing, which comprises a four-story mall and a car park building, for a price consideration of 150.0 billion Indonesian rupiah. The property has a net lettable area of 8,345 square meters, the trust noted in a filing.
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As of Oct. 10, US$ 1 was equivalent to ¥112.02 and 13,513.00 Indonesian rupiah.