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Charter Hall to boost Australian fund's managed assets to over A$1B

This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.

AUSTRALIA

* expects to expand itsDirect Office Fund's funds under management to over A$1 billion by targetingretail and self-managed super funds investors, The Australian reportedMarch 31.

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PRIME URBAN Chikusa in Aichi, Japan.

Source: Nomura Real Estate Master Fund Inc.

Thecompany also intends to raise equity for its Direct Industrial Funds, launchnew direct industrial funds DIF 3 and DIF 4 and set up DAT 2 as its secondDirect Automotive Trust.

* 's FrasersProperty Australia Pty. Ltd. sold out all the 60 townhouses at its Park Galleryproject in Queensland, according to a March 30 .

* Meanwhile, an unnamedprivate investor bought Frasers Property Australia's new Coles supermarket inBerwick, Melbourne, for A$23.4 million, TheAustralian Financial Review reportedMarch 29. The sale yield for the 3,200-square-meter property was undisclosed.

JAPAN

* 's managersaid March 30 thatit agreed to acquire a 60% stake in Ueno East Tower in Taito-ku, Tokyo, fromNaeba Properties TMK for ¥21.6 billion.

* said March 30 thatit completed the purchase of a property and the sale of two assets inMinato-ku, Tokyo.

Thecompany acquired the Nittochi Toranomon Building for ¥15.55 billion, while it sold the KDX Toranomon Buildingand the Toranomon Toyo Building for ¥3.95 billion and ¥11.47 billion,respectively.

* March 30 that it completed thepurchase of Leaf Minatomirai in Yokohama-shi, Kanagawa, for ¥11.70 billion andOrchid Square in Chiyoda-ku, Tokyo, for ¥3.50 billion.

* March 29 that it completedthe acquisition of Century TokyoLeasing Corp.'s AEON MALL Chiba-Newtown property in Inzai City,Chiba Prefecture, for ¥12.19 billion.

* said March 30 thatit agreed to sell Joyfultown Okayama in Okayama City, Okayama, for ¥8.69billion. The building has a land area of 38,005.17 square meters and comprisesretail stores and a game center.

* said March 29 thatit plans to acquire one logistics asset and two residential properties for acombined price of around ¥5.63 billion. Godo Kaisha Osaka Hirakata Project isselling the Hirakata Kuzuha Logistics Center in Osaka, while undisclosedsellers are divesting the PRIME URBAN Meguro Mita and PRIME URBAN Chikusaresidential properties in Tokyo and Aichi, respectively.

Nomuraalso plans to sell eight properties comprising three offices and fiveresidential properties across Japan for an aggregate price of ¥5.35 billion.

* said March 25 that it plans to buy trust beneficiaryinterests in Sekisui House Ltd.'sPrime Maison SHIBUYA and Prime Maison HATSUDAI, both in Tokyo; and Sekiwa RealEstate Kansai Ltd.'s Esty Maison UEMACHIDAI in Osaka and Esty MaisonKOBE-SANNOMIYA in Hyogo for a combined price of ¥6.81 billion.

* said March 30 that it agreed to sell TOKYU REITHatchobori Building in Chuo-ku, Tokyo, for ¥5.01 billion.

* said March 30 thatits asset manager Mitsui Fudosan Accommodations Fund Management Co. Ltd.decided to buy Dormy Nishi Ogikubo in Suginami-ku, Tokyo, for ¥1.10 billion.The apartment building has 71 rentable units on a site area of 683.47 squaremeters.

* March 29 that it sold theSapporo Co-op asset in Kitahiroshima, Sapporo, from its 29-property portfoliofor ¥1.1 billion, reflecting an 8.9% premium to the ¥1.01 billion book value asof Dec. 31, 2015. The company held the interest in the property through JPTScarlett Co. Ltd., a special purpose and property-owning Japanese company.

Hotel Sunroute Osaka Namba in Osaka, Japan.

Source: Ascendas Hospitality Trust.

* said March 29 thatit planned to acquire the RESIDIA Funabashi III property in Funabashi-city,Chiba, scheduled on March 30 for ¥620.0 million. An unnamed seller isoff-loading the property. Advance Residence said it will use cash on hand tofund the deal.

* March 30 that itredeveloped the Hotel Sunroute Osaka Namba property in Osaka for around ¥1.14billion.

Thecompany launched the renovated hotel after three months of reconstruction work formodern appeal to guests staying either for leisure or business purposes. The14-floor hotel has 698 guest rooms and two restaurants.

INDONESIA

said March 28 thatit expanded its network in Indonesia with the launch of a third servicedresidence in Jakarta. The 151-unit Fraser Place Setiabudi property will bringthe trust's portfolio in the capital city to eight properties with more than 1,300units by 2019, according to Frasers.

ADDITIONAL COVERAGE

: The company said it formed an 80/20 jointventure with China State Construction International for the development ofresidential properties in Tai Po, Hong Kong.

: Westfield bought two buildings at the Westfield MissionValley mall in California from Macy's for $16.5 million, WWD reported.

: The deals involve the BukitBintang City Centre mixed-use development.

: Changsha Jin Mao Real Estate agreed on a 930.8million Chinese yuan equity deal for full ownership of the Jinmao Meixi Lakeproject in Hunan, China.

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