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Charter Hall Long WALE REIT buys 10 industrial assets; Peet forms wholesale fund


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Charter Hall Long WALE REIT buys 10 industrial assets; Peet forms wholesale fund

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


* Charter Hall Long WALE REIT acquired SUEZ Recycling & Recovery Pty. Ltd.'s portfolio of 10 industrial properties for A$65.9 million via a sale-leaseback deal, according to a filing. The purchase of the assets in Queensland, New South Wales, Victoria and Western Australia reflected a 6.0% capitalization rate.

* Peet Ltd. formed a new wholesale fund in partnership with Supalai PCL for the development of the New Haven estate in Tarneit, near Melbourne. Peet will own 51% of the fund and Supalai will own the remainder.

The fund is the second joint venture between the companies after they established their partnership earlier this year to develop a 1,100-lot operating residential estate in Redbank Plains, Queensland.


* Keppel Land Ltd. unit Keppel Land China Ltd. agreed to sell a 49.7% effective interest in Cityone Development (Wuxi) Co. Ltd. to Tianhonglixin Real Estate Co. Ltd. for approximately 619 million Chinese yuan. Cityone Development is a joint venture company that serves as the developer of the Central Park City township project in Wuxi.

* Joy City Property Ltd. unveiled the Tianjin He Ping Joy City, its first light asset output project in China. The shopping mall generated almost 10 million yuan in online and offline sales on the first day of its opening on Dec. 24.


* AIMS AMP Capital Industrial REIT said it received a temporary occupation permit for the 30 & 32 Tuas West Road redevelopment project, which is valued at S$60.7 million, according to a filing. The redevelopment will almost double the gross floor area of the two industrial buildings from 159,717 square feet to 288,663 square feet.


* Nippon Accommodations Fund Inc. plans to sell a trust beneficiary interest in the Park Axis Shibuya property in Shibuya-ku, Tokyo, for ¥1.27 billion to an undisclosed buyer.

The apartment building was handed over to the buyer on Dec. 26, and has a gross floor area of 1,194.8 square meters. The building, which has a rentable area of 1,094.3 square meters, is fully leased to one tenant.

* Heiwa Real Estate REIT said that it will buy the Re-81 HF HAKATA-HIGASHI RESIDENCE in Fukuoka City for ¥880.0 million from an unnamed individual. The company will use cash on hand to fund the purchase. The acquisition is a part of the REIT's portfolio replacement program.

Other geographies

* Far East Consortium International Ltd. completed the £13.4 million purchase of a car park in the vicinity of the Manchester Airport in the U.K. The property has roughly 1,500 car parking bays and will continue to operate under the FSS Manchester Airport Car Park brand.

Additional coverage

MTR awards Hong Kong site tender at price above valuation: The tender was for the sale of a land parcel above Ho Man Tin station in Hong Kong, which was earlier valued at HK$9.7 billion.

Mitsubishi Estate Co. to fund Lendlease's A$1.5B project in Sydney, Australia: Mitsubishi Estate Co. is partnering up with Chinese insurer Ping An and Lendlease to fund the Circular Quay Tower project.

Global Logistic Properties plans ¥133B warehouse development in Japan: The company secured a site in Sagamihara, Greater Tokyo, on which it plans to develop over 655,000 square meters of gross floor area.

Yanlord Land unit acquires Chinese site for 7.84B yuan: Yanlord Land acquired a prime integrated development site at Nanjing Eco-Island in Nanjing, China, through a public land auction.

Hilton to manage dual-branded hotel in Vietnam owned by BRG Group: The company signed an agreement with a unit of BRG Group to manage a 610-room, dual-branded hotel in Hanoi, Vietnam.