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Centuria wins race for Blackstone tower; Oxley sells Irish asset for €164.2M

Editor's Note: The next edition of The Daily Dose Asia Real Estate will be published April 3, 2018, in observance of Good Friday and Easter Monday.

* Specialist investment manager Centuria Capital Group edged out funds manager Primewest to secure a deal with U.S. private equity giant Blackstone Group LP for the roughly A$190 million sale of the office building at 80 Grenfell St. in Adelaide, Australia, The Australian reported.

* An Irish partnership involving Oxley Holdings Ltd.'s Oxley Docklands Quay One Ltd. subsidiary entered into a €164.2 million agreement with Sol Estate Propco IE Dublin Landings Sarl for the sale of its property at No. 1 Dublin Landings, 72-80 North Wall Quay in Dublin. Completion of the deal is expected by April, according to the Singapore-listed developer.

* Online retailer JD.com Inc., in a partnership with international property platform Juwai.com, is adding apartments to the list of products that it is offering for sale online. The Australian Financial Review reported that the properties that will be listed are in Australia, Canada, the U.S. and the U.K.

Australia

* Hong Kong groups Far East Consortium International Ltd. and Chow Tai Fook Group formed a strategic alliance with Australian integrated resort company The Star Entertainment Group Ltd.

As part of the partnership agreement, Far East and Chow Tai will each subscribe for 45,825,000 ordinary shares for a combined 9.9% stake in The Star. Far East will shell out nearly A$245.2 million for the stake buy, to be sourced from internal reserves and external financing, according to a filing.

* Charter Hall Group and Investa Commercial Property Fund are jointly proposing the A$650 million development of a 40-story office tower at Clive Palmer's Mineralogy House in Brisbane. The duo hopes financial services provider Suncorp Group Ltd. will choose to anchor the planned development over other shortlisted options.

* Meanwhile, four businesses — InSpaceXR, BricksandAgent.com, Snaploader and Estate Baron — were chosen to participate in the latest edition of Charter Hall's startup accelerator program, the AFR reported. The five-month program allows the listed developer to scout and assess startups whose business offerings could be beneficial to its commercial property acquisition and management, among other benefits, the paper noted.

* A partnership between Scentre Group and Chinese-backed Australia-listed developer Boyuan Holdings Ltd. filed an application with the Greater Sydney Commission to transform a 344-hectare land parcel in Sydney into a major new town.

The pair, according to The Australian, is seeking approval for a mixed-use project that can house 22,250 residents and will include 880,000 square meters of mixed living space, 120,000 square meters of accommodation and 200,000 square meters of educational area.

* Morgan Stanley Real Estate Investing is looking to buy a stake in the A$200 million-plus tower at 699 Bourke St. in Melbourne that Mirvac Group jointly owns with TH Real Estate, The Australian reported.

* The federal government's Clean Energy Finance Corp. committed A$100 million to Lendlease Corp. Ltd.'s investment arm, Australian Prime Property Fund Commercial. The investment will be used to support sustainable and green efforts in Lendlease's own A$2.5 billion Melbourne Quarter regeneration scheme in the Melbourne suburb of Docklands.

* Chinese private equity group iProsperity is taking full ownership of the 3,300-square-meter leasehold site at 1-5 Railway St. in Sydney's Chatswood district that it co-owns with Lotus Capital Asset Management. According to the AFR, iProsperity paid A$107 million to buy its partner's stake in the property.

Hong Kong and China

* A Hangzhou Binjiang Real Estate Group Co. Ltd. subsidiary secured a land site after bidding 1.43 billion yuan, Reuters reported, citing a Chinese filing.

* An undisclosed bank agreed to provide a HK$2.00 billion term loan facility to China Resources Land Ltd., with validity subject to China Resources (Holdings) Co. Ltd. remaining as the single largest shareholder of the loan recipient.

* Separately, China Resources Land's China Resources Land Shen Nan Development (Shenzhen) Co. Ltd. joint venture agreed to pay 1.01 billion yuan to an affiliate of its parent for the relocation of the Sanju Hotel in Shenzhen's Luohu district, as part of the urban renewal plan of the hotel.

* China Merchants Shekou Industrial Zone Holdings Co. Ltd., the subsidiary of China Merchants Group for property development, said the company is now operating 500,000 square meters of long-term rental apartments and will focus to expand network in first- and second-tier cities, The Securities Times reported. The Shenzhen-based company attained 52.5% growth in contracted sales last year to 112.8 billion yuan, and aims to reach 150 billion yuan this year.

Japan

* Office-focused Japan Real Estate Investment Corp. is buying Mitsubishi Estate Co. Ltd.'s trust beneficiary rights in the 22-story Shinjuku Eastside Square and 37-story Shinjuku Front Tower office-and-retail properties in Tokyo's Shinjuku area for a combined ¥50.49 billion consideration.

* Japan Post Holdings Co. Ltd. will establish a new real estate development unit as a wholly owned subsidiary April 2, The Mainichi Shimbun reported.

Singapore

* The trustee of Far East Hospitality Trust's Far East Hospitality Real Estate Investment Trust obtained loan facilities from two institutional banks with respective amounts of nearly S$95.8 million and roughly S$167.2 million.

* Lafe Corp. Ltd., through its Gioia Fund subsidiary, is purchasing the 15-unit Fairhaven freehold residential development site along Sophia Road in District 9 for S$57 million, The (Singapore) Business Times reported.

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The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.

Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.

As of March 28, US$1 was equivalent to 6.30 yuan, ¥106.19 and S$1.31.