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Elanor readies IPO of retail property fund; Marriott to double its business in Australia

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Elanor readies IPO of retail property fund; Marriott to double its business in Australia

* Elanor Investors Group ispoised for the IPO ofa retail property-focused fund, Elanor Retail Property Fund, which willinitially own a portfolio independently valued at A$243.2 million.

The portfoliowill consist of five shopping centers across Australia, with their valuationreflecting a weighted average cap rate of 7.7%, an average weighted leaseexpiration of 5.1 years and a 96.7% occupancy rate.

* considersAustralia an "important and strategic market," and plans to doubleits business in the country to almost 10,000 rooms by the end of the decadefollowing its takeoverof Starwood Hotels & ResortsWorldwide Inc., TheAustralian Financial Review reported,citing the company's Asia Pacific President and Managing Director Craig Smith

Thehotelier currently has 16 hotels with over 4,700 rooms in the country,according to the report.

HONG KONG, CHINA ANDTAIWAN

* agreedto divest its communications subsidiary for HK$9.50 billion in cash, subject toterms and conditions. Green Energy Cayman Corp. is buying Wharf CommunicationsLtd.

Thedisposal is part ofthe conglomerate's ongoing strategic review of its businesses. Proceeds will beused to provide additional funding for the group's future business developmentand investment opportunities, according to a filing.

* Moody's said that 'sproposed reorganizationvia a cooperation agreement with Shenzhen Investment Holding Co. Ltd., ifcompleted, will strengthen its access to onshore equity capital and potentiallybring in new equity.

* 's board is proposing to issue debt financing instruments worth up to 40 billionChinese yuan in the interbank bond market in China, with proceeds earmarked forreplenishment of working capital, repayment of borrowings and for investing inprojects.

* A China InternationalHoldings Ltd. unit entered into a conditional sale and purchase agreement to sella project company that owns a 121,778.9-square-meter site in Ji Xian, Tianjin,China, to Beijing Hongkunweiye Property Development Co. Ltd. for 460 millionyuan in cash. The site was bought for the development ofresidential and commercial areas.

* In a bid to controlincreasing home prices, the Shenzhen municipal government in China hiked theminimum down payment for local residents purchasing a second home to 70% of theaggregate price, The (Hong Kong) Standard reported.

The 21st CenturyBusiness Herald also reportedon the news.

* Residentialhousing sales in Hong Kong soared to a four-year high of 7,826 units inSeptember, up 83.6% from a year ago, according to data from the Hong Kong LandRegistry, ifeng.com reported.

* Commercial property deals in Taiwan in the third quarterfell 62.69% quarter on quarter to NT$10.5 billion, as price differencesincreased between buyers and sellers, TaipeiTimes reported,citing international property consultancy DTZ.

JAPAN

* wrapped up theacquisition of the Ochanomizu Sola City office property in Chiyoda-ku,Tokyo, from Surugadai Funding LLC for roughly ¥?15.3 billion, according to astatement.

* concluded its purchaseof additional trust beneficiary interest in the G-Building Takadanobaba 01 property inShinjuku-ku, Tokyo, for approximately ¥3.55 billion.

* has startedwork on a 372-room hotel in Higashi Gotanda, Shinagawa Ward, Tokyo, which isslated to open in summer 2018, Logistics Partner reported.

* Nomura Real EstateDevelopment Co. Ltd., Shimizu Corp. and Takara Leben Co. Ltd. will participatein the redevelopment of the Koiwa Station in Edogawa Ward, Tokyo, Jutaku-Shimpo-Sha reported.

AUSTRALIA

* Receivers KordaMentha willunload the office towers at 553 and 541 St. Kilda Rd. in Melbourne, hoping tobag over A$100 million for the properties, TheAustralian reported.

* Owing to strong demand,GPT Group will expandits Space&Co co-working space at its 530 Collins Street building inMelbourne to 1,200 square meters from 700 square meters, TheSydney Morning Herald reported.The expanded space is set to launch in November.

* Latest data from theAustralian Bureau of Statistics indicated that new apartment approvals in the12 months to August increased to 238,204 in seasonally adjusted terms, thehighest since the 238,213 recorded in January, the AFR reported.

* Meanwhile, figures from SQMResearch indicated that residential property listings increased in all capitalcities in September, the AFR reported.According to the report, the number of national residential property listingswas up 4.3% in September, and national listings were up 2.4% from September2015.

* A 40% rise in the number ofAirBnB listings across Melbourne since the start of 2016 has seen averagemonthly income for hosts fall by 32%, the SMHreported.

* Shared office space operatorWeWork, which recently launched in Sydney, intends to expand its footprint inthe country, with Melbourne flagged as its next possible business location, theSMH reported,citing Henek Lo, general manager for WeWork in Hong Kong, Seoul and Sydney.

Now featured on S&PGlobal Market Intelligence

: S&P GlobalMarket Intelligence caught up with Paul Pittman, CEO of Farmland Partners, totalk growth strategy in the niche farmland REIT space.

: The combination of the twonontraded hotel REITs, both sponsored by the Moody National Cos., would bringtogether two entities with shared leadership, among other similarities.

: The "other" retail sector,comprising single-tenant and outlet center REITs, among others, traded at thelargest premium to NAV, at 30.3%.

The Daily Dose Asia-Pacific,Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external linksmay require a subscription. Articles and links are correct as of publicationtime.

Cam Nones, John Chan andJulie Zhu contributed to this report.