* Blackstone Group LP's Indian arm got a new competitor in the quest to acquire the US$525 million ILFS India Realty Fund I, one of India's first real estate-focused funds. Livemint, citing two people aware of the development, reported that local Kotak Realty Fund is also showing interest in the fund, noting that a potential deal could be worth about US$200 million.
* ESR Pte. Ltd. revealed that it was the unnamed international buyer of an 18.06% stake in Propertylink. The interest, purchased by Citigroup Inc. for the company, is worth an estimated A$110 million. The buyer said it will keep its options open regarding the investment in Propertylink.
Propertylink, in a separate statement, expressed willingness to discuss strategic initiatives with its new investor. The company recently rejected takeover advances from Centuria Capital Group and Centuria Industrial REIT, which own a 17% stake in the fund.
* Aurora Funds Management Ltd. got rid of all the defeating conditions included in the terms of its takeover offer for RNY Property Trust Oct. 4.
* Cromwell Property Group CEO Paul Weightman said plans to list the company's Cromwell European Real Estate Investment Trust in Singapore are still in order, telling The Australian that the company still intends "to go ahead with it but taking into account some feedback from the market."
The statement comes after the company decided in September to not register the prospectus for the European trust's €927 million IPO. Recently, the group parted ways with Investa Office Fund via a A$276 million sell-out, ending its more than yearlong takeover pursuit.
* The embattled Aveo Group Ltd. is exiting certain of its investments to focus solely on its retirement sector business. The Australian reported that the company aims to divest its office and retail properties in the Gasworks precinct in Brisbane, along with its remaining land banks, by 2019-end.
* The campaign to sell for roughly A$270 million the Lendlease Corp. Ltd. co-owned office complex headquarters of Australian department store group Myer in the Melbourne suburb of Docklands has started, The Australian reported.
* Malaysian developer OSK Property awarded Multiplex with a roughly A$500 million contract to carry out works on the first stage of its A$2.8 billion Melbourne Square mixed-use development in Melbourne, which will include six towers and a 3,700-square-meter public park, The Australian Financial Review reported.
* Property developer Tim Gurner is planning to transform a one-hectare island site at 2-28 Montague St., Melbourne, into a A$1.2 billion mixed-use project comprising residential, hotel and office towers with 9,000 square meters of retail space, the AFR reported.
* Coombes Property Group and Drivas Property Group are seeking approval for a 23-story A$227 million office tower in Sydney's Parramatta, the AFR reported. The 34,277-square-meter grade A building will stand at the pair's 3,685-square-meter site at 50 Macquarie St. and 220 Church St. in the Sydney suburb.
* The emerging build-to-rent sector in Australia, which piqued the interest of listed developers Mirvac Group and Lendlease, could grow to become a roughly A$40 billion sector if it can overcome various challenges such as tax treatment and access to managed investment trusts, The Australian reported, citing JLL.
* A City Developments Ltd. joint venture purchased the 200-unit Amber Park freehold condominium in Singapore's Amber Gardens for S$906.7 million, a premium to the S$768 million minimum asking price for the property. The buyers intend to develop the site into an 800-unit scheme featuring four 25-story towers.
According to JLL regional director Tan Hong Boon, the sale is the largest collective sale by dollar value of a freehold asset in the city-state.
* CapitaLand Commercial Trust said the offer information statement related to its planned S$700.0 million issuance of 513,540,228 underwritten and renounceable new rights units has been distributed to eligible unit holders Oct. 4.
Hong Kong and China
* Hongkong Land Holdings Ltd. will pay Oct. 19 the 6 U.S. cents dividend it declared for the first half of 2017, according to a release.
* Sumitomo Realty & Development Co. Ltd. will start work on a mixed-use tower in Osaka in June 2018 for a March 2022 opening. The property will feature 836 apartments and 200 hotel rooms, Construction News reported.
* La Française Real Estate Partners International, a fund manager backed by South Korean investors Samsung Securities and Hyundai Marine & Fire, purchased a 60% stake in a 77,000-square-meter office complex in Brussels, Belgium, IPE Real Assets reported.
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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. Articles and links are correct as of publication time.
Cam Nones and John Chan contributed to this report.
As of Oct. 4, US$1 was equivalent to S$1.36.