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Blackstone ups bid for Investa; China Vanke-backed Lianjia eyes US$2B

* Blackstone Group LP is not giving up just yet on its pursuit of Investa Office Fund, as the private equity giant offered to increase the price consideration for the target's units to A$5.6215 from A$5.45 apiece, subject to certain conditions. Two of the conditions are to adjourn the scheduled Sept. 6 merger vote meeting for "as short a period as possible" and to increase the agreed break fee payable to it to A$33.0 million from A$20.0 million.

Earlier, it was reported that Blackstone might cancel its takeover proposal for the target after Oxford Properties Group submitted a rival bid.

* IPO-hopeful Beijing Homelink Real Estate Brokerage Co. Ltd., also known as Lianjia, is expecting a total investment of about US$2 billion from capital investors including Tencent Holdings Ltd. and Warburg Pincus LLC. The value of the Chinese property agency, which counts China Vanke Co. Ltd. and Sunac China Holdings Ltd. as earlier investors, could be lifted to US$13 billion following the anticipated funding round.

Australia

* Future Fund is selling its stake in the A$1.2 billion Lakeside Joondalup Shopping City property in Perth that it co-owns with a Lendlease Corp. Ltd.-managed fund, The Australian reported. The interest in the retail property is expected to pique the interest of major players, including Scentre Group, Vicinity Centres and GPT Group.

* Brookfield appointed advisers as it considers selling its half-stakes in two office properties in Sydney, which according to The Australian could sell for approximately A$500 million. Up for grabs are the global real estate company's interests in the 27,760-square-meter 10 Shelley Street and the 14,967-square-meter 12 Shelley Street buildings.

* WeWork Cos. will lease three floors in the Liberty Place property at Castlereagh Street in Sydney under a 12-year deal signed with GPT and its co-owners, The Australian reported. The coworking space operator is expected to launch its branch in the property, also known as ANZ Tower, in February 2019.

* Citi analysts cited by the AFR are expecting increases in the assets under management of property companies Goodman Group, Lendlease and Charter Hall Group. On the other hand, the analysts have bearish outlooks for retail-focused companies such as Scentre and BWP Trust.

Hong Kong and China

* Beijing Capital Land Ltd. is planning to auction off a 51% shareholding in Beijing Kaiyuanhean Investment Management Co. Ltd. on the China Beijing Equity Exchange with a price tag of nearly 598.2 million yuan. The divestment also entails the repayment of the seller's shareholder's loan in Beijing Kaiyuanhean, which amounts to about 1.19 billion yuan.

* C&D International Investment Group Ltd.'s Xiamen Yi Yue Property Co. Ltd. subsidiary placed the winning bid of about 1.07 billion yuan to secure an approximately 71,606.09-square-meter residential site in Wuhan, China.

* Also in the Chinese city of Wuhan, Sunshine 100 China Holdings Ltd.'s Wuhan Yihai Jiaye Real Estate Development Co. Ltd. unit was awarded the rights over a 125,028.90-square-meter commercial-residential land parcel after it offered to pay 818.8 million yuan for the site.

* The contracted sales of China Vanke rose to 38.34 billion yuan in August from the estimated 37.04 billion yuan recorded in the prior-year period. During the reporting month, the Chinese property developer also agreed to buy 20 new projects across China for about 16.44 billion yuan and five new logistics property projects for 374 million yuan.

* Hong Kong property developers Sun Hung Kai Properties Ltd., Wheelock and Co. Ltd. and Nan Fung Development Ltd. will put a total of 597 new flats on the market during the biggest weekend sale in the city in six months, happening Sept. 7-9, according to the South China Morning Post.

Singapore

* Mapletree Industrial Trust appointed DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. to be the arrangers and dealers of a recently established S$2.00 billion euro medium-term securities program.

* Keppel Corp. Ltd.'s shareholding in Keppel DC REIT was reduced to approximately 25.2% following the completion of its nearly S$75.0 million sale of 55,118,336 units in the Singapore-listed pure-play data center real estate investment trust.

Malaysia

* The state government of Johor formed a task force that will review loopholes and weaknesses in the state's current housing policy amid the controversy surrounding Country Garden Holdings Co. Ltd.'s US$100 billion Forest City project, Malay Mail reported, citing Johor Housing and Rural Development Committee Chairman Dzulkefly Ahmad.

Japan

* One REIT is planning to acquire the trust beneficiary interest in the Higobashi Bridge Center office building in Nishi Ward, Osaka City, from IBJ Lease Co. Ltd. for ¥8.93 billion, Construction News reported. The property has two levels underground and 18 levels above ground with a total floor area of 24,556 square meters.

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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.

Rollen Catorce and John Chan contributed to this report.