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Westfield, Lendlease to press ahead with UK projects despite Brexit fallout

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Westfield, Lendlease to press ahead with UK projects despite Brexit fallout

This feature rounds uprecent property news from S&P Global Market Intelligence's coveredcompanies and highlights larger deal coverage already published.

* and areexpected to endure the negative impact of the Brexit vote in their U.K.operations, The Australian reported.Westfield's exposure in the country includes its regeneration scheme inLondon in partnership with Hammerson Plc, while Lendlease is involved in the £2billion development of a residential scheme in north London.

AUSTRALIA

* An undisclosedbuyer is in due diligence to acquire the building at 28 Freshwater Place inSouthbank, Melbourne, for nearly A$300 million. Owners and 's FrasersProperty Australia Pty. Ltd. had short-listed five groups for the property, The Australian Financial Review reported.

On the other hand, Singapore-listed ARA Asset Management isalso in due diligence for the purchase of DEXUS Property Group's A$600 million Southgate complexin the city.

* DEXUS PropertyGroup is tipped to be interested in buying the Insurance Commission of WesternAustralia's Westralia Square Tower in Perth, which is the last remaining assetin the commission's sale of an A$800 million portfolio, The Australian reported.

The property could be sold for around A$140 million, thereport said. The commission recently off-loaded the in Perth for around A$87million to Chinese company Zone Q Investments.

* a 1,100-lot residential projectin Redbank Plains, Queensland, by establishing a 50/50 joint venture withThailand-listed SupalaiPCL for a new wholesale fund. Peet will be the development managerof the fund.

* DEXUS PropertyGroup entered the A$172 billion healthcare market by partnering with RamsayHealth Care to build a 128-bed private hospital in Sydney, The Australian reported.

CHINA

* gained approval from shareholders for its 31.00billion-Chinese-yuan deal with CITIC Ltd. for residential-focused propertydevelopment projects in China.

* said CIFI Group Co.Ltd. agreed to sell its 70% equity interest in Shanghai Yongsheng PropertyManagement Co. Ltd. for 91 million yuan to Shanghai Jianpu InvestmentManagement Co. Ltd.

Shanghai Yongsheng provides property management services.The company and its subsidiaries have managed 76 property projects across Chinaas of Dec. 31, 2015, with a total gross floor area under management ofapproximately 8.5 million square meters.

*Singapore-listed UOL GroupLtd.'s Pan Pacific Hotels Group will unveil the first Pan Pacificbrand hotel in Beijing in the first half of 2017. Pan Pacific Beijing will have223 rooms, according to a release.

HONG KONG

* and NanFung Group off-loaded a house at the Peak in Hong Kong for HK$630 million, The (Hong Kong) Standard reported.The report added that RegalHotels International Holdings Ltd. and priced thefourth batch of flats at The Ascent project, while targets afourth-quarter launch of St. Moritz in Kau To Shan. will also open sales for 21 Yuccie Square project in Yuen Long on July 25.

* Sun Hung KaiProperties may launch the sales for its 650-unit Lime Gala development in ShauKei Wan in July, The Standard reported.The company also placed 45 ParkYoho Venezia units and 30 Park Yoho Sicilia units on the marketJuly 18.

ADDITIONAL COVERAGE

MitsuiFudosan, Canadian partner to open Four Seasons Hotel in Tokyo: Thehotel is scheduled to open in the spring of 2020.

Great Eagle's£250M London project suspended amid post-Brexit uncertainty: Citingconcerns about Brexit's impact on property values as a factor in the decision,Great Eagle Holdings Chairman Lo Ka Shui called the recent trading suspensionsfrom seven listed property funds an "extremely drastic measure,"according to Bloomberg News.

Dalian Wandaadvances London mixed-use project with new £500M financing: Theloan was provided by Chinese bank Ping An.

Frontier RealEstate Investment to pay ¥15.10B for 50% stake in Mitsui Fudosanmall: The company intends to pay ¥15.10 billion for a 50%co-ownership stake in Mitsui Shopping Park LaLaport SHIN-MISATO's main buildingin Misato-City, Saitama.

Chinese groupbuys Wheelock's One HarbourGate East for HK$4.5B: Cheung Kei Groupplans to rename the property to Cheung Kei Centre and use it as its Hong Kongheadquarters, The (Hong Kong) Standard reported.

Reports:Propertylink advances A$500M IPO, nears deal for A$200M portfolio:Logistics and office property manager and investor Propertylink submitted aprospectus for its estimated A$500 million IPO in Australia, secured severalsupporters for the plan and is closer to sealing a deal to acquire a A$200million portfolio, according to media reports.

ChinaOceanwide, Lendlease units ink $814M contract: The contractinvolves the construction for a mixed-use project in Los Angeles.

DLF,Blackstone affiliate to divide ownership of 5 properties in India:Ridgewood will take full ownership of two land parcels in Bangalore and one inChennai, while DLF agreed to take two land parcels in Chennai.

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