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Link REIT completes HK$12B mall sale; Daiwa House warns ¥12B loss from theft

* Link Real Estate Investment Trust closed its approximately HK$12.01 billion deal with a Gaw Capital Partners-led consortium for the sale of 12 shopping centers in Hong Kong. Link REIT sold the properties, totaling 1.1 million square feet of retail space and over 4,700 parking spaces, to the consortium that also includes Goldman Sachs Group Inc. and Blackstone Group LP.

* Daiwa House Industry Co. Ltd. expects to record a loss of approximately ¥11.7 billion if its Dalian Daiwa Zhongsheng Real Estate joint venture with Dalian Zhongsheng Group fails to recover about 1.42 billion yuan in suspected embezzled funds, Nikkei Asian Review reported, citing Keiichi Yoshii, Daiwa House's president. Chinese investigators are reportedly pursuing criminal charges against three people in the Japanese property company's Chinese affiliate.

Hong Kong and China

* China Evergrande Group and Shenzhen Investment Holdings Co. Ltd. agreed to further extend the exclusivity period for their 60 billion-yuan reorganization agreement to Dec. 31 from March 31. The deal entered into in October 2016 will pave the way for the Shenzhen listing of the developer's Hengda Real Estate Group Co. Ltd. subsidiary.

* Ronshine China Holdings Ltd. is forecasting a year-over-year increase of more than 60% in its net profit attributable to owners of the company for the year ended Dec. 31, 2018. The real estate company attributed the bullish forecast mainly to its delivery of more properties with higher profit margin during the reporting year compared with the prior-year period.

* Guorui Properties Ltd. is boosting its US$160.0 million issuance of 13.5% senior notes due 2022 with a US$295.0 million offering. The additional notes that will be offered at a price equivalent to 97.0% of the principal amount will be listed on the Singapore stock exchange and are slated to be settled March 15.

Australia

* Stockland is selling two retail properties in Brisbane to unnamed private investors for an aggregate A$143 million consideration. Settlement of the deals for the Stockland Cleveland shopping center and the Toowong retail and commercial center are both expected June 30, according to a news release.

* Morgan Stanley's real estate arm secured a deal for the half-stake in the office complex at 10-20 Bond St. in Sydney with assistance from the property's co-owner, Mirvac Group, The Australian reported. Financial details of the agreement for the interest held by Investa Office Fund were not disclosed, but according to the report, Mirvac's stake was valued at A$309.5 million, and the new deal's amount is around this level.

* Aniko Group obtained approval for its plan to build a A$140 million resort-style residential precinct in the Gold Coast's Hope Island suburb in Queensland, The Australian Financial Review reported. The project intended for the 8,390-square-meter waterfront site at 1 Grant Ave. will feature 210 apartment units.

* The seller of the 22-hectare Parklea Markets site in Sydney that Dyldam Developments Pty. Ltd. bought in 2016 is alleging misconduct in the transaction, the AFR reported. In light of the allegations, Con Constantine filed a case against the property developer and Pacific Alliance Asia Special Situations Fund in the New South Wales Supreme Court.

Southeast Asia

* SM Investments Corp. confirmed that it is allocating 98 billion pesos for its 2019 capital expenditures. The Filipino conglomerate's SM Prime Holdings Inc. subsidiary is set to receive 80 billion pesos of the total allocated funds, with the amount to be directed toward the real estate company's property developments.

* Singaporean coworking space operator The Great Room will open a new branch in the city-state, marking its fourth location in the country, The (Singapore) Business Times reported. The new office spanning 15,000 square feet will be integrated in the Raffles Hotel Singapore, which is scheduled to reopen in a few months.

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.

Rollen Catorce contributed to this report.