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Daiwa House closes ¥5B portion of ¥97B deal; Garda to buy facility for A$10M

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Daiwa House closes ¥5B portion of ¥97B deal; Garda to buy facility for A$10M

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

Japan

* Logistics and retail-focused Daiwa House REIT Investment Corp. closed its ¥4.50 billion purchase of the Royal Home Center Morinomiya (Land) retail asset from Royal Home Center Co. Ltd. The property is one of the three retail assets that the REIT agreed to buy in February under a roughly ¥96.98 billion deal.

* Okuwa Co. Ltd. is looking to divest a real estate property in Tanabe for ¥1.05 billion, Reuters reported.

* Nippon REIT Investment Corp. said it will buy an 18.4% equity interest in Godo Kaisha NRT Growth 13 silent partnership for ¥140 million. The target, according to a news release, is the owner of the Esprit Kameido and Towa Kandanishikicho Building commercial properties.

* Meiho Enterprise Co. Ltd. bought a real estate property in Saitama for an undisclosed amount, according to Reuters report.

* In a separate brief, Reuters reported that Properst Co. Ltd. is planning to buy land and a building in Tokyo for an undisclosed amount.

Australia

* Garda Diversified Property Fund is buying an industrial facility at 67 Noosa St. in the Heathwood suburb of Brisbane for A$9.8 million, reflecting a 7.4% initial yield. The 15,094-square-meter site houses a 6,022-square-meter industrial facility leased to James Engineering.

The planned acquisition is expected to be completed no later than April 26 using cash on hand and debt facilities initially.

* Listed developer Eureka Group Holdings Ltd. received about A$3.4 million following the settlement of the sale of two Amber Lodge-branded properties in Adelaide and Victoria St Mackay.

New Zealand

* Investore Property Ltd. completed its divestment of two properties in Christchurch's Hornby and Gorge Road in Queenstown that were sold for NZ$21.5 million and NZ$11.1 million, respectively. The shopping center-focused company said the completed sale of the assets is part of the divestment program it unveiled Nov. 13, 2017.

Additional coverage

iProsperity takes full ownership of Sydney office leasehold with A$107M buy

C&D International unit to sign 720M yuan deal for Chinese land purchase

Centuria outbids Primewest to secure Blackstone's office asset in A$190M deal

Oxley unit's JV sells 300-year building lease in Dublin project for €164M

Morgan Stanley eyes 50% stake in A$200M Mirvac building

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.

As of March 28, US$1 was equivalent to ¥106.19 and NZ$1.38.