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In This List

Blackstone, Mirvac eye A$900M portfolio in Australia; Hotel Lotte eyes June IPO in South Korea

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Blackstone, Mirvac eye A$900M portfolio in Australia; Hotel Lotte eyes June IPO in South Korea

* and are believed to be partneringto bid for the A$900 million portfolio that VicinityCentres is planningto off-load. The partners, according to unnamed sources citedby The Australian Financial Review, areentering due diligence for a potential transaction.

* Hotel Lotte, inan attempt to boost its valuation, might pushback its South Korean IPOto June from its initial target of May. The lodgings and duty-free sales unit ofLotte Group, as reported previously, already has preliminary for its public listing applicationfrom the South Korean stock exchange.

* said it the first phase of its US$1.5 billionlogistics and business park in Japan's Chiba Newtown and kicked off the project'ssecond phase. Phase one of the projectinvolves the 116,000-square-meter East Building, while phase two pertains to the125,000-square-meter South Building targeted for an early 2018 launch. The Japandevelopment adds to the company's recent overseas initiatives in the and Brazil.

* In Australia, theproposed takeover by of Investa OfficeFund, or IOF, is eliciting concerns related to management, fees and other mattersamong consultants and investors in Dexus Wholesale Property Fund, the AFR reported.The Australian company recently sweetenedits bid for IOF to animplied valuation equating to A$4.24 per IOF unit.

* The publicationalso carried a reporton how Investa Property Group still thinks that the updated DEXUS offer undervaluesIOF. On the other hand, The Australian saidin a reportthat IOF shareholders RREEF and CBRE Clarion are also urging the Takeovers Panel to prevent Morgan Stanleyfrom voting on the merger.

HONG KONG AND CHINA

* saidthe put option for its disposal of the entity that owns the Corporate Avenue 3 towerin Shanghai has lapsed. China VankeCo. Ltd. had agreedto buy the project company for 5.70 billion Chinese yuan.

* said BestEra International Ltd., its controlling stockholder, still has not arrived at a decision regarding a "" of thecompany and has not presented a formal proposal to the board.

* said it recordedcontracted sales of about 3.01 billion yuan during the first quarter, includingabout 2.97 billion yuan worth of properties and 37.15 million yuan worth of carparking spaces. The divested assets had a gross floor area of about 279,768 squaremeters.

The company's March contracted sales came out to about 1.39 billionyuan.

* 's contractedsales for the first quarter was approximately 42.87 billion yuan for 5.63 millionsquare meters of gross floor area, according to a filing.

* , meanwhile,reportedthat its contracted sales for the three months ended March 31 reached roughly 11.8billion yuan, representing about 540,000 square meters of sold area.

* saidits proposed public issuanceof not more than 30 billion yuan of its domestic renewable corporate bonds withup to 10-year maturity will be up for a shareholder vote at the company's secondextraordinary general meeting scheduled for May 20.

* Fitch Ratings liftedShimao Property Holdings Ltd.'slong-term issuer default rating to BBB- from BB+, with a stable outlook. The ratingagency noted that the company's business has achieved stability as demonstratedby its "healthy" EBITDA margin of 23% to 25% and its generation of neutral-to-positivecash flow from operations from 2015 due to its measured pace of land replenishment.

Meanwhile, Moody's said the company's Ba2 corporate family ratingand stable outlook are not affected by its "weak" 2015 results, despitedecreasing its rating headroom. The rating agency added that it expects the companyto maintain sufficient liquidity through "proactive" capital managementand "disciplined" land purchases.

* Moody's said 's"weakened" 2015 financial results are reflected in its B3 corporate familyrating and align with expectations. Thanks to its enhanced geographic and productmix, Hopson is now in a better position to meet its 2016 sales target, which shouldgradually improve the company's credit metrics, Moody's analyst Dylan Yeo said.

* Standard & Poor'sRatings Services said it affirmed ChinaJinmao Holdings Group Ltd.''s ratings, including its long-term corporatecredit rating at BBB-. Its ratings outlook on China Jinmao is stable, reflectingits expectation for the company to control its debt-funded expansion and for itto deleverage via earnings growth.

AUSTRALIAAND NEW ZEALAND

* 's unsolicitedoffer to take over has received"largely positive verdicts" from analysts, accordingto the AFR. The publication added thatanalysts from Macquarie Wealth, CLSA and UBS expect the deal to pave the way formore M&A activity in the REIT sector.

* is China-based Ping An Insurance asa capital partner for its 248-meter office tower in Circular Quay, Sydney. The companysaid in March that it revised its plan for the project, which will also featurea low-rise public building and the renovated Jacksons on George licensed premises,after the Sydney city council reportedly approved Dalian Wanda Commercial Properties Co. Ltd.'s A$1 billionhotel-and-apartment developmentnear its site.

* The AFR reportedthat a A$300 million mixed-use project is being planned in Sydney's Marsden Park,where Stockland's 178-hectareElara community is alsolocated.

The 3.8-hectare campus-style development planned by AustralianDevelopment Group and Rothelowman would be the first multitenant project in thearea and will offer 860 apartments and townhouses and 1,500 square meters of retailspace.

* Mirvac and partnerPerron Group is bringing in H&M to its Broadway Shopping Centre in Sydney, which is currently undergoinga A$55 million overhaul. The Swedish retail giant will open its store in the springon the center's 3,400-square-meter level-two expansion, accordingto the AFR.

* Home prices in NewZealand continued their upward movement in March, with a residential property priceindex rising 11.4% year over year and up 35% from the market's late 2007 peak, Reutersreported,citing Quotable Value data. Most parts of the country, except Auckland, have seena rise in home values during the first quarter, said Andrea Rush, Quotable Value'snational spokesperson.

JAPAN

* said it secureddebt financing amounting to ¥10 billion from Development Bank of Japan Inc. Thelong-term debt will bear a 0.2563% interest rate and has a repayment due date ofApril 8, 2026.

* The number of mortgagerefinancing applications surged to 23,600 at Japan's six largest banks in March,a 3.6-fold increase from a year ago, and is believed to be driven by the Bank ofJapan's introduction ofa negative interest rate, The Asahi Shimbunreported.

* Odakyu Real EstateCo. Ltd. has opened a three-story building with a gross floor area of 986 squaremeters in front of Kaisei Station on the Odakyu Odawara Line in Kanagawa Prefectureas part of its area redevelopment project, Jutaku-Shimpo-Shareported. A 63-unit apartmentcomplex will also open in the area soon.

SINGAPORE

* is welcoming , K Line, Bunge and ManpowerGroupas new tenants at its Guoco Tower, which is designedto be the tallest tower in the city-state. The(Singapore) Business Times reportedthat AccorHotels will move its Asia-Pacific headquarters to the tower.

SOUTHEAST ASIA

* GMR-Megawide CebuAirport Corp. is in discussions with eight local and international property companies,including SM Group, to build a six-hectare mixed-use property near the Mactan-CebuInternational Airport in Cebu, the Philippines, The Philippine Star reported.

* While the National Property Information Centre's latest preliminaryreport on the property market in Malaysia shows property transactions and valuedeclined in 2015 and 2014, property investments are likely to remain robust in thelong term as the country forges ahead toward becoming a developed nation by 2020,experts at JLL Malaysia and JLL's Southeast Asia research wrote in a piecepublished by The Business Times.

Now featured

Anbang's abortedStarwood gambit raises questions about China-US deals: Large Chineseacquirers, including several insurance companies, are seeking to invest in U.S.assets. But observers say Anbang Insurance Group's ultimately unsuccessful bid toacquire Starwood Hotels & Resorts Worldwide illustrates the difficulties ofcross-border M&A.

IPO Monitor forthe week ending April 6: Hotel Lotte's South Korean listing could bepotentially delayed, while the German spinoff of Australia's GPT Group looks torevive its IPO or trade sale plan.

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 publication time.

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