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Prologis unit signs ¥61.9B RE deal; China Resources wins 6 plots for 9.65B yuan

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Prologis unit signs ¥61.9B RE deal; China Resources wins 6 plots for 9.65B yuan

* Prologis Inc. subsidiary Nippon Prologis REIT Inc. is buying five Japanese properties for approximately ¥61.90 billion. The proposed acquisition will be financed using a combination of bank loans and proceeds from a public offering of new units.

* China Resources Land (Shandong) Development Co. Ltd., a wholly owned subsidiary of China Resources Land Ltd., won the rights over six parcels of land in Jinan, China, after it placed the highest bid of nearly 9.65 billion yuan for the properties being sold by the Land Resources Bureau.

Hong Kong and China

* CapitaLand Ltd.'s 1.12 million-square-meter Raffles City Chongqing joint project in China with Singaporean investor Ascendas-Singbridge Pte. Ltd. was recognized as having the highest sky bridge linking the largest number of towers in the world, thanks to its 300-meter-long structure called The Conservatory.

* Swire Properties Ltd.'s Citi-Fame Development Ltd. subsidiary signed a roughly 1.35 billion-yuan deal with Shanghai Newbund Industrial Development Co. Ltd. to secure a 50% stake in a project company that will undertake the development of a large-scale retail project in Shanghai's Pudong New District.

* Shenzhen Investment Ltd. obtained a HK$500.0 million three-year term facility with an unidentified bank.

* Shui On Land Ltd. will guarantee its Shui On Development (Holding) Ltd. subsidiary's planned international offering of senior notes to investors in Asia and Europe. Money raised through the proposed issuance will be used for debt repayment and to finance the company's growth and expansion initiatives.

* Central China Real Estate Ltd. will conduct an international offering of U.S.-dollar-denominated senior notes for debt repayment.

* Property transactions in Shanghai during the Chinese New Year rose 129.7% year over year, but were still at the second-lowest level since 2012, Xinhua News Agency reported.

Japan

* Diversified real estate investment trust ORIX JREIT Inc. struck a ¥34 billion agreement with ORIX Golf Management Corp. for the purchase of the 600-room Hotel Universal Port in Osaka. A combination of cash sourced from internal reserves and proceeds from a proposed issuance of new investment units will be used for the hospitality property buy.

* GLP J-REIT is planning a roughly ¥67.16 billion offering of new investment units to help fund the purchase of six Japanese properties for roughly ¥77.06 billion.

* A 60-company Japanese consortium including Mitsubishi Estate Co. Ltd., Daiwa Real Estate Appraisal Co. Ltd. and Sekisui House Ltd. is planning to establish a ¥25 billion tourism-focused fund, with launch set for April. The planned 10-year fund with an annual return of about 6% will carry a mandate to invest in up to ¥100 billion of projects.

* Japan's hotel industry is facing a possible glut of capacity in the run-up to the 2020 Tokyo Olympics as major real estate developers join the fray for hotel construction, The Asahi Shimbun reported.

* Resorttrust Inc. has opened a new luxury membership resort hotel in Ashiya, Hyogo Prefecture, Tokyo's The Nikkei reported. The ¥31.3 billion project named Ashiya Bay Court Club Hotel & Spa Resort has 201 suite rooms exclusively available for members.

India

* Puravankara Ltd. CFO Kuldeep Chawla said the Bengaluru-based real estate company is in advanced discussions with institutional investors for its plan to establish two funds totaling 40.00 billion Indian rupees. The funds, which are intended to be created within the next two quarters, will focus on affordable housing projects and commercial rental properties, according to the executive.

* Shareholders of Indiabulls Real Estate Ltd. will meet March 23 to vote on resolutions including the proposed divestment of interests in its Indiabulls Properties Pvt. Ltd. and Indiabulls Real Estate Company Pvt. Ltd. subsidiaries, as well as on its planned exit from Chennai through the sale of commercial and residential properties.

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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, Emily Lai and Jaekwon Lim contributed to this report.

As of Feb. 26, US$1 was equivalent to 6.31 yuan, 64.83 Indian rupees and ¥106.92.