* 's assetmanager, TLCActivia Investment Management Inc., signed a merger and acquisition deal withTLC Comforia Investment Management INC. as the surviving entity. TLC Comforia is the assetmanager of Comforia ResidentialREIT, Inc.
TLCComforia plans to execute an absorption-type split agreement with Tokyu LandCapital Management Inc. The combined business is expected to have more than¥600 billion of assets under management.
* Singaporean wealth fund GICacquired a 7,150-bed student accommodation portfolio in the U.K. from OaktreeCapital Management LP in what it claimsto be the largest deal in the student housing sector year-to-date. IPE Real Estate reported,citing media reports, that the acquisition had a £700 million price tag.
HONG KONG AND CHINA
* 's plan todivest its noncore businesses is credit positive, according to Moody's. Thesale will not have an immediate impact on its B2 corporate family rating or B3senior unsecured bond rating, with a negative outlook.
Thecompany agreed to sell its businesses in grain and oil, dairy products andspringwater for 2.70 billion Chinese yuan as it seeks to focus on real estateand property-related businesses.
* 's GuangzhouCity Construction & Development Co. Ltd. completed the third-tranche issuance of bonds in Chinaamounting to 2.00 billion yuan.
* and theUrban Renewal Authority sold 51 flats at their 93 Pau Chung Street project inTo Kwa Wan, Hong Kong, The Standard (Hong Kong) reported.
* Keppel Land China Ltd. plansto buy a newly completed retail development in Jiading District, Shanghai, for500 million yuan. The property spans a gross floor area of 40,927 square metersand a net lettable area of approximately 32,800 square meters.
* CEFC China Energy Co.intends to acquire three floors at the 46-story ConventionPlaza in Wan Chai, Hong Kong, for HK$1.38 billion, the South China Morning Post reported.The transaction is expected to be the biggest sale based on unit rate for anentire level in a building, said Denis Ma, JLL Hong Kong head of research.
* Beijing will continue toincrease land supply for small to midsize flats, Jiemian reported. The cityrecently put five residential land sites up for auction after suspending landsales for five months.
AUSTRALIA AND NEW ZEALAND
* submitted adevelopment application for a A$550 million office building on Collins Streetin Melbourne, The Australian FinancialReview reported.The building will have 27 levels and is expected to be the biggest component ofthe company's MelbourneQuarter mixed-use project.
* exchangedcontracts for the A$51.5 million sale of the 31-49 Browns Road property inClayton, Victoria.
* Greaton completed itsacquisition of the A$730 million The Ribbon project in Sydney, The Australian reported.
* Australia's housing debt isworse than New Zealand's, The AustralianFinancial Review reported,citing data from the Australian Bureau of Statistics and Reserve Bank ofAustralia. The Reserve Bank of New Zealand also warned of the significantimpact of a severe price correction to the country's economic and financialstability, as banks remain exposed to high levels of housing debt.
* Kenedix Retail REIT Corp. plansto issue investment corporation bonds, excluding short-term investmentcorporation notes, amounting to ¥100 billion between Oct. 7 and Oct. 6, 2018.The company plans to use the proceeds from the issuance to fund certain assetacquisitions and to repay borrowings, among other purposes.
* startedwork on a 372-room hotel project in Shinagawa-ku, Tokyo. The Higashi Gotanda2-chome Hotel Project is expected to open in summer 2018.
* The Tokyo Metropolisapproved Mitsubishi Estate Co.Ltd.'s planned ¥494.6 billion redevelopment project near theNihonbashi exit of the Tokyo Station, NikkanKensetsu Kogyo Shinbun reported.
* saidUOL Treasury Services Pte. Ltd. issued S$240.0 million of 2.50% fixed-ratenotes due 2020. The series 002 notes were issued as the second tranche of aS$1.00 billion multicurrency medium-term note program. DBS Bank Ltd. and UnitedOverseas Bank Ltd. acted as the joint lead managers and book runners for thebonds.
* 's Setia EcoHill townshipin Semenyih, Selangor, will debut its D'Camellia affordable apartments Oct. 1, The (Malaysia) Star reported.The 635-unit D'Camellia apartment project will be completed in the last quarterof 2019.
* The Employees Provident Fundseeks to boost real estate, private equity and infrastructure investments inthe next three to four years as a way to diversify its portfolio for increasedreturns, Bloomberg News reported,citing Employees Provident Fund CEO Shahril Ridza Ridzuan.
The Daily Dose Asia-Pacific,Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external linksmay require a subscription. Articles and links are correct as of publicationtime.
Cam Nones, John Chan andJulie Zhu contributed to this report.