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Blackstone mulls bid for US$2.4B Anbang portfolio; Brookfield, Aveo ink M&A deal

* Blackstone Group Inc. is considering making an offer for Anbang Insurance Group Co. Ltd.'s US$2.4 billion property portfolio in Japan, Reuters reported, citing two people familiar with the plans. The embattled Chinese insurer attempted a partial sale of the portfolio, which largely comprises residential buildings in Tokyo and other major cities, in 2018. It acquired the properties from Blackstone in 2017.

* Separately, Blackstone is on track to acquire the Global Village Tech Park in Bangalore, India, from Coffee Day Enterprises Ltd. after the latter signed a nonbinding letter of intent to sell the 90-acre property to the private equity firm for up to 30 billion rupees.

* Entities controlled by Brookfield Property Group LLC-managed funds signed a deal with Aveo Group to take over the Australian retirement communities operator for consideration representing total value of A$2.195 per security. The buyout offer, which is unanimously recommended by Aveo's board, values the target at approximately A$1.27 billion.


* The majority of OUE Commercial REIT's unit holders approved the company's proposal to purchase its fellow Singapore-listed real estate investment trust OUE Hospitality Trust. The planned merger, which secured in-principle approval from the Singapore stock exchange in June, is expected to create one of the largest REITs in the city-state with a roughly S$2.9 billion market capitalization and approximately S$6.8 billion of total assets.


* Bearish sentiments on Australia's retail sector prompted Vicinity Centres and Keppel Capital Pte. Ltd. to scrap the A$1 billion Vicinity Keppel Australia Retail Fund joint venture that planned to target retail centers in the country, IPE Real Assets reported, citing Vicinity CEO Grant Kelley.

* A consortium involving Hilton Worldwide Holdings Inc., M20 and Ledrae Hotels is proposing to develop a A$200 million-plus hotel and trade center in Canberra, The Australian reported. The project, which is intended to be situated in City Hill Precinct, will include the Australian capital's first Hilton hotel, with 253 guest rooms, luxury retail outlets, a fitness center, pool, spa facilities and meeting and event space.

Hong Kong and China

* Guangzhou R&F Properties Co. Ltd. won the tender for a 114,900-square-meter development in Guangzhou, China, Guandian reported. The property company earmarked 1.7 billion yuan for the project, which is slated to commence in the first quarter of 2020.

* Country Garden Holdings Co. Ltd. paid 1.25 billion yuan to acquire a 115,336-square-meter urban redevelopment project in Taiyuan, China, Guandian reported.

* The Stan Group Inc. filed an application with Hong Kong's Town Planning Board to convert a factory building in the Tuen Mun area of New Territories into a 943-room hotel. The developer's project proposal includes adding two stories to the 15-story building, which currently is primarily used for storage.

* Billion Development and Project Management Ltd. received 8,900 deposits in total for 354 units at The Aurora residential project in Tsuen Wan, Hong Kong, Apple Daily reported. Political unrest in the city is among the factors believed to have contributed to the oversubscription. The units will be on sale Aug. 17.


* The number of existing apartments sold in Tokyo's capital region in July increased 3% year over year to 3,233 units, while the average sales price rose 2.4% over the same period to ¥34.4 million, Jutaku-Shimpo-Sha reported, citing figures from the Real Estate Information Network for East Japan.

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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. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Moira Dickinson, Emily Lai and Jaekwon Lim contributed to this report.