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WeWork agrees to SoftBank takeover; Samsung buys Amazon-leased facility

* WeWork Cos. Inc. agreed to SoftBank Group Corp.s takeover proposal, which values the coworking giant at approximately US$8 billion, The Wall Street Journal reported, citing people familiar with the matter. The We Co. unit chose the Japanese conglomerate's offer over a competing bid from JPMorgan Chase & Co., sources said.

* Samsung Securities Co. Ltd. acquired an Amazon.com Inc.-leased logistics center in Prague from AEW Global Ltd. for about 180 billion South Korean won, Korea JoongAng Daily reported, citing unnamed sources in the finance industry. Following the transaction, the South Korean financial services company intends to sell the property for an expected 9% return on investment.

Australia

* Elanor Investors Group is aiming to raise as much as A$150 million for its Elanor Commercial Property Fund, which it plans to list on the Australian stock exchange by early December, The Australian Financial Review's Street Talk reported. The real estate investment trust is expected to have a market capitalization of A$255 million and a 20% targeted gearing on listing.

* PropertyGuru Ltd. is expected to price its planned IPO on the Australian stock exchange at the lower end of the A$3.70-per-share to A$4.50-per-share price range, Reuters reported, citing two sources close to the deal. The KKR & Co.-backed company, which operates digital property classifieds marketplaces in Singapore, Vietnam, Malaysia, Thailand and Indonesia, plans to start trading on the bourse on a conditional and deferred settlement basis Oct. 25.

* Herbert Smith Freehills agreed to lease approximately 10,300 square meters of space in one of the towers at Dexus' precinct at 80 Collins St. in Melbourne. The international law firm will occupy eight floors of the A$1.48 billion project's South Tower for a 12-year term commencing July 1, 2021.

* Meanwhile, according to Dexus' Australian Real Estate Quarterly Review, property transaction volumes across the country during the third quarter increased 65% quarter over quarter to A$11.8 billion. The review additionally noted that despite a weaker September quarter, Australian REITs still outperformed other asset classes in the year ended Sept. 30 by delivering a positive 18.3% return.

Greater China

* China Resources Land Ltd. is expecting to net approximately HK$6.72 billion from a major shareholder's share sale and its placement of new shares. Most of the anticipated net proceeds from the two-part transaction, for which Goldman Sachs (Asia) LLC will serve as placing agent, will be used to finance land acquisition and development.

* A Beijing court is selling LeEco Inc.'s headquarters in the city at an auction reserve price of 678 million yuan, Mingtiandi reported, citing a public listing on a JD.com Inc.-managed distressed asset site. The 19,600-square-meter commercial property at 105 Yaojiayuan Rd. is valued at 969 million yuan, according to the auction site.

Japan

* Mitsubishi Estate Co. Ltd. will mark its first foray into the co-living business with the mid-October opening of a property in Tokyo's Shibuya district, the Nikkei Asian Review reported. The planned expansion is part of the Japanese developer's joint venture with Singapore-based co-living space operator Hmlet Pte. Ltd.

Singapore

* Mapletree Logistics Trust will issue up to 158,329,000 new units on a private placement basis to raise about S$250.0 million. The company will use the expected gross proceeds to partially finance its planned purchase of a S$493.4 million logistics property portfolio in Malaysia, Vietnam and China.

* Manulife US REIT struck deals for a loan facility of an undisclosed amount to help finance its US$198.8 million acquisition of the office building at 400 Capitol Mall in Sacramento, Calif. The Singapore-listed trust agreed to buy the 29-story freehold property with a US$200.5 million valuation in September.

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