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Garda closes A$35.3M Volvo facility buy; Yanlord selling project to CEO scion

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

Australia

* Listed real estate investment trust Garda Diversified Property Fund closed its nearly A$35.3 million acquisition of the 90-hectare Metroplex Westgate Industrial Facility in Brisbane. The industrial estate purchased on a 6.25% initial yield consists of a purpose-built facility for Volvo Group Australia that will include a 6,057-square-meter service warehouse and delivery center, and 3,937 square meters made up of office space and a showroom.

The planned Volvo facility within the site is expected to be completed in August, marking the start of the automotive company's 10-year lease, the REIT noted in a news release.

China

* Singapore-listed Yanlord Land Group Ltd., through its Nanjing Yanlord Commercial Management Co. Ltd. subsidiary, is selling the Yanlord Yangtze Riverbay Town development in Nanjing to a daughter of its chairman and CEO under a roughly 185.3 million-ringgit deal. The property project, according to a news release, has a total area amounting to 28,974.84 square meters.

Malaysia

* Canadian real estate company King George Financial Corp. agreed to buy 1,249 shares in Oclamon Real Estate Fund 1 for a sum of US$11.2 million. The Cayman Islands-incorporated fund, together with a Malaysian developer, is developing a 5.02-acre mixed-use project at Medini Lakeside in the Iskandar area that will feature a full-service business hotel, an office building, retail units and two serviced residential towers.

Additional coverage

Report: Indiabulls office fund pays 4.7B rupees for Hyderabad complex

Court orders auction of Unitech properties to help with homebuyer refund

Yida China completes 3.16B-yuan stake buy in Shui On subsidiary

Kenedix Office signs ¥20.7B purchase, ¥12.6B sale deals in Tokyo

Singapore commercial site enters en bloc sale market at S$425M reserve price

As of May 14, US$1 was equivalent to 3.95 ringgit.