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Blackstone mulls investment in Allcargo JV; Shimao plans A$1B Sydney tower

* Blackstone Group Inc. is in discussion to invest 15 billion Indian rupees in a joint venture with Allcargo Logistics Ltd. to build warehouses across India. The U.S. company is seeking a 51% stake in the venture.

* Separately, Blackstone Group-controlled entities agreed to purchase Indiabulls Real Estate Ltd.'s direct and indirect stakes in its commercial properties for 44.20 billion rupees. The transaction is expected to be completed "very soon."

* Chinese property company Shimao Property Holdings Ltd. proposed to build a luxury tower that would be worth more than A$1 billion at 175 Liverpool St. in Sydney, The Australian reported. The plan will involve demolition of an existing 48,877-square-meter building at the site which is home to blue-chip companies, as well as state and federal government departments.

* Angelo Gordon & Co. LP raised US$1.3 billion for its fourth pan-Asia real estate fund, surpassing its initial US$1 billion target. AG Asia Realty Fund IV LP, which also became the company's largest fund of its kind, lists Minnesota State Board of Investment, Los Angeles County Employees' Retirement Association, Sacramento County Employees' Retirement System and Seattle City Employees' Retirement System as investors.

Southeast Asia

* Thailand-based hospitality company Asset World Corp. PCL is gearing up for a 2019 IPO. It seeks to raise up to 48 billion baht from offering up to 8 billion shares at 6 baht apiece.

* SM Prime Holdings Inc. will open SM City Olongapo Central mall in the Philippine city of Olongapo on Sept. 13, according to a news release. The launch of the four-story shopping center will boost the Filipino developer's mall portfolio by 72,000 square meters.

Greater China

* Wheelock & Co. Ltd. sold 133 of 182 flats it offered at its Lohas Park Phase IXB Grand Marini development in Tseung Kwan O, Hong Kong, The (Hong Kong) Standard reported. In the same report, the publication noted that Longfor Group Holdings Ltd. and KWG Group Holdings Ltd. started marketing 667 residential units in their Upper RiverBank joint project in the Kai Tak area of the city.

* Agile Properties Ltd. acquired a 26,799-square-meter residential land parcel in Zhongshan, China, at the reserve price of 643 million Chinese yuan, Guandian reported.

* Country Garden Holdings Co. Ltd. is planning to issue US$500.0 million of 6.15% senior notes due 2025. The Hong Kong-listed developer intends to use the net proceeds to refinance existing medium- to long-term offshore debt, according to a filing.

* Far East Consortium International Ltd.'s FEC Finance Ltd. subsidiary will add US$50 million to its previous US$250 million of 7.375% senior guaranteed perpetual capital notes. The follow-on offering is part of Far East Consortium's US$1 billion guaranteed medium-term note program.

Japan

* Tokyu Land Corp. plans to open its Tokyu Plaza Shibuya project, which will house 69 stores, on Dec. 5.

Australia

* Qualitas Real Estate Income Fund is aiming to raise A$266 million from selling shares at A$1.60 apiece, The Australian Financial Review reported. Qualitas real estate debt fund will use the proceeds to finance more property loans, as demand for commercial credit continues to grow, the publication noted.

Other real estate news

* South Korean investor Kiwoom Asset Management bought the 28,000-square-meter Queens Towers office building in Amsterdam for €130 million.

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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.