trending Market Intelligence /marketintelligence/en/news-insights/trending/OjSYpeug1KGwaH9SH3Fcmw2 content esgSubNav
In This List

ORIX JREIT to buy hotel for ¥27B; GLP secures lease deals in China, Japan


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

ORIX JREIT to buy hotel for ¥27B; GLP secures lease deals in China, Japan

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

Japan and China

* ORIX JREIT Inc. plans to buy a beneficiary interest in Yugen Kaisha SunHotel Investment's SUNROUTE PLAZA TOKYO hotel property in Urayasu-shi, Chiba, Japan, for ¥26.80 billion. The transaction reflected a 5.6% NOI yield and a 4.4% cap rate.

* Invesco Office J-REIT Inc. plans to acquire a stake in the Kinshicho Prime Tower in Koutou-ku, Tokyo, for around ¥15.15 billion from Godo Kaisha Condor Property, according to a release.

* Global Logistic Properties Ltd. secured lease deals for 128,000 square meters of logistics space in China and Japan over the last two months. The clients are from the automotive, e-commerce and consumer goods industries.

* City Developments Ltd. agreed to invest 72 million Chinese yuan in shared-office space operator Distrii. The investment is equivalent to a 24% stake in the company. Distrii already has capacity for more than 2,200 members across nine locations in Shanghai, with 80% taken up, as of Jan. 19.


* Viva Industrial Trust purchased a logistics development property at 6 Chin Bee Ave. for S$87.3 million. The property consists of five floors of logistics/warehouse facilities with a total gross floor area of 324,166 square feet.


* DEXUS Property Group settled the A$110.2 million purchase, excluding acquisition costs, of The Mill property in Alexandria, New South Wales, according to a release.

* Investa Office Fund completed its A$70.7 million sale of the 383 La Trobe Street property in Melbourne. The fund will use the proceeds to repay existing debt facilities.


* PT Lippo Karawaci Tbk's PT Siloam International Hospitals Tbk plans to acquire the Rumah Sakit Umum Sentosa in Bekasi and Rumah Sakit Grha Ultima Medika in Mataram for a combined price of 181.5 billion Indonesian rupiah, subject to due diligence review results.

Rumah Sakit Umum Sentosa is a 50-bed hospital in a 2,911-square-meter building, while the other property is a 70-bed hospital in a 7,725-square-meter building.

* First Real Estate Investment Trust and Lippo Malls Indonesia Retail Trust decided to terminate a conditional sale and purchase agreement for the Siloam Hospitals Yogyakarta hospital and Lippo Plaza Jogja retail mall.

The parties mutually agreed to cancel the deal to provide PT Mulia Citra Abadi, the vendor, time to secure relevant licenses for the operation of Siloam Hospitals Yogyakarta and renovate Lippo Plaza Jogja.


* Indiabulls Real Estate Ltd. subsidiary Kenneth Builders & Developers Pvt. Ltd. returned a land parcel in South Delhi to the Delhi Development Authority in exchange for a refund worth approximately 7.01 billion Indian rupees, pursuant to a Supreme Court ruling.

New Zealand

* National Storage REIT agreed to acquire its third freehold storage center in Wellington for roughly NZ$9.8 million from Storage Solutions 2002 Ltd. and Paremata Business Park Ltd. The center has 500 units over 4,300 square meters of net lettable area.

Additional coverage

China Resources Land logs 27% YOY increase in 2016 sales: December 2016 contracted sales, meanwhile, increased to approximately 9.03 billion Chinese yuan from about 7.03 billion yuan year over year.

Greenland Hong Kong unit to buy Chinese land parcel for 2.34B yuan : Suzhou Runjian Property agreed to purchase a 90% stake and a shareholder's loan in a company that owns a land parcel in Wuxi City, China.

MCUBS MidCity to buy stake in Tokyo property for ¥12.13B: MCUBS MidCity also plans to sell a trust beneficiary interest in a property in Osaka, Japan, for ¥9 billion.

CapitaLand unit sells The Nassim property for S$412M: CRL Realty sold The Nassim property in Singapore by divesting all the ordinary issued shares in Nassim Hill Realty.

CapitaLand to develop 1st office property in Vietnam: CapitaLand agreed to acquire a prime commercial site in Ho Chi Minh City's central business district for the development of an office building.

MTR seeks expressions of interest for HK$10B residential site in Hong Kong: Thomas Lam Ho-man, Knight Frank senior director, estimates the site's value between HK$8 billion and HK$9.8 billion, with more than 20 companies expected to submit expressions of interest, The (Hong Kong) Standard reported.

SP Setia consortium abandons 11.3 trillion rupiah plan : SP Setia and its three consortium partners decided to shelve an affordable housing project in Indonesia for an undisclosed reason, according to a filing.