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Folkestone buys asset for new fund; Kenedix closes ¥4.21B warehouse purchase

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Folkestone buys asset for new fund; Kenedix closes ¥4.21B warehouse purchase

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

Australia

* Folkestone is buying a 49.9% stake in the 251-lot Rosewood in Plumpton residential land subdivision in Melbourne's Plumpton suburb for an undisclosed amount. According to a news release, the stake will be seeded to the Folkestone Plumpton Development Fund, which will be seeking to raise A$16.5 million.

Japan

* Kenedix Retail REIT Corp. completed May 31 its roughly ¥4.21 billion acquisition of the Costco Wholesale Sapporo Warehouse property in Hokkaido. The seller is an unnamed domestic company, according to the shopping center-focused company.

* Starts Proceed Investment Corp. is buying the Proceed Ichikawa Myoden II rental housing property in the Chiba prefecture for ¥800.0 million from Starts Development Corp., an affiliate of its asset management company, Starts Asset Management Co. Ltd. The deal for the transaction was planned to be executed May 25.

Additional coverage

Report: Contenders for 13.58B-yuan Shanghai site down to Shui On, Hongkong Land

Suntec REIT JV completes A$154.6M purchase of Dexus stake in Melbourne property

Beijing Capital Land subsidiary enters deal to buy 20% stake in Beijing project

GR Properties agrees to buy mixed-use property owner in Beijing for HK$1.54B

As of May 31, US$1 was equivalent to ¥108.76.