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Unizo urged to accept Blackstone's ¥171B bid; India's 2nd REIT IPO adds bankers


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Unizo urged to accept Blackstone's ¥171B bid; India's 2nd REIT IPO adds bankers

* Elliott Management Corp., the largest shareholder of Unizo Holdings Co. Ltd., is urging the Japanese hotel operator to accept Blackstone Group Inc.'s roughly ¥171.1 billion tender offer, Reuters reported, citing a statement from Elliott. The activist investor warned that it would take "all available measures" if Unizo fails to do its "fiduciary duty."

* Separately, Blackstone Group and Indian developer K Raheja Corp. Pvt. Ltd. added more banks to arrange the IPO of what would become India's second real estate investment trust, Bloomberg News reported, citing people familiar with the matter. Citigroup Inc., Kotak Mahindra Capital Co. Ltd. and Axis Capital Ltd. are joining Morgan Stanley & Co. LLC to oversee the offering.

New Zealand

* LendLease Group's Real Estate Partners New Zealand fund is selling three retail properties that are expected to fetch more than NZ$350 million, The Australian Financial Review reported. The portfolio on offer comprises the Dress Smart Onehunga in Auckland, the Dress Smart Hornby in Christchurch and the Meridian Mall in Dunedin's central business district.

Greater China

* An affiliate of China Cinda Asset Management Co. Ltd. bought The Kimberley Hotel in Hong Kong's Tsim Sha Tsui area for HK$4.3 billion, Mingtiandi reported, citing Land Registry documents. The 243,301-square-foot hotel with 546 rooms received the offer from an unnamed buyer earlier in October at a price lower than the HK$6 billion asking price of the property.

* A partnership between China Resources Land Ltd. and Beijing Capital Development Co. Ltd. paid 978 million yuan for the acquisition of a mixed-use development site in Beijing, Guandian reported. The land is zoned for residential, multi-functional and educational purposes.

* CK Asset Holdings Ltd. sold 110 of the 218 units at its Seaside Sonata development in Sham Shui Po, Hong Kong, on the project's first day of launch, Ming Pao reported.

In the same report, the publication noted that Sun Hung Kai Properties Ltd. also sold 110 units on the first day of the launch of the third batch of its Cullinan West III project in the city.

* Country Garden Holdings Co. Ltd. will issue 1.85 billion yuan of four-year notes on the Shanghai stock exchange, Guandian reported. The bonds will be offered at an annual fixed interest rate of 6.8%.


* CapitaLand Ltd.'s CapitaLand Treasury Ltd. subsidiary issued S$500.0 million of fixed-rate subordinated perpetual notes under its S$5.00 billion euro medium-term note program as planned. The notes are expected to be listed on the Singapore stock exchange on Oct. 18, according to a news release.

* Meanwhile, CapitaLand is teaming up with NavInfo DataTech and TPG Telecom to establish Singapore's largest 5G smart estate trial site within the listed developer's Singapore Science Park property. The estate, supported by a S$40 million funding from the Infocomm Media Development Authority, will include the Smart Urban Co-Innovation Lab, CapitaLand added.


* Shenzhou International Group Holdings Ltd. earmarked US$100 million for an Adidas-dedicated garment production facility in Vietnam that is expected to gradually commence operations in 2021.


* Susukino Lafiler, a large shopping complex in central Sapporo, will close down in May 2020 for redevelopment, Tokyo's The Nikkei reported. Currently, the shopping complex has about 110 tenant stores and restaurants.

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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. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Aries Poon, Emily Lai and Jaekwon Lim contributed to this report.