* Blackstone Group Inc.'s joint venture with K Raheja Corp. Pvt. Ltd. is believed to be planning to list what would be the second real estate investment trust in India. The draft red herring prospectus for the listing is expected to be filed by the end of 2019, with the IPO scheduled to take place in 2020-2021.
* Meanwhile, Blackstone closed its 28 billion-rupee acquisition of the Global Village Tech Park in Bengaluru, India, from Coffee Day Enterprises Ltd., Mint reported, citing two people familiar with the transaction. The seller intends to use the proceeds generated from the transaction to repay its debts and for working capital expenditures, one of the sources said.
* New commitments from European investors is taking M&G Real Estate's pan-Asia core fund closer to reaching US$5 billion, IPE Real Assets reported, citing Ng Chiang Ling, CEO of M&G Real Estate Asia. Over the past year, M&G Asia Property Fund raised US$400 million following capital injections from investors including a German pension fund and a Swiss institution.
Australia
* Student accommodation group Scape struck a A$700 million deal to buy the Atira student accommodation platform from Goldman Sachs Group Inc. and Blue Sky Alternative Investments Ltd., The Australian Financial Review reported. The six properties comprising the targeted portfolio will be seeded to a new A$1.5 billion core fund that is jointly backed by Allianz Real Estate and AXA Group.
* CBRE Group Inc. and UBS Group AG started marketing the property portfolio of Australian biscuit maker Arnotts Biscuits Holdings Pty. Ltd. on behalf of private equity firm KKR & Co., the AFR's Street Talk reported. The industrial and logistics properties with a gross lettable area of 131,322 square meters are being offered as part of an A$800 million sale-and-leaseback deal, according to an earlier report.
* The Beach Hotel in the New South Wales town of Byron Bay is being sold for more than A$100 million, The Australian reported. The property, which is being marketed with the help of JLL Hotels & Hospitality Group, occupies a 4,585-square-meter site and includes 25 boutique hotel rooms, a swimming pool, a pub with extensive beer gardens, a restaurant, function spaces and a bottle shop.
Greater China
* The respective contracted sales of Sino-Ocean Group Holding Ltd., Midea Real Estate Holding Ltd. and Yuexiu Property Co. Ltd. for the eight months ended Aug. 31 grew year over year by 32% to about 75.40 billion yuan, by 18.09% to roughly 60.7 billion yuan and by 32% to nearly 44.04 billion yuan.
* The Shanghai Stock Exchange approved Shimao Property Holdings Ltd.'s application to issue 2 billion yuan of asset-backed securities, Guandian reported.
* Far East Consortium International Ltd.'s FEC Finance Ltd. subsidiary is expecting to net approximately US$247.5 million from its offering of US$250 million of senior guaranteed perpetual notes under its US$1 billion guaranteed medium-term note program. The anticipated amount will be utilized for business development, general corporate purposes and refinancing of the company's existing debt.
* Hong Kong's Lands Department did not receive any applications for presale consent in August amid the social unrest in the city, the Hong Kong Economic Times reported. The number of uncompleted apartments fell for the third consecutive month to 7,695 units, following a 23% decline from July.
Japan
* Hotel Okura Co. Ltd. on Sept. 12 will open The Okura Tokyo development, which is a 41-story office-hotel building with a 17-story hotel annex, The Mainichi Shimbun reported.
* Meanwhile, Nomura Real Estate Holdings Inc. will also open an 11-story upscale restaurant building in Nagoya's Sakae entertainment and shopping district on Nov. 21, Tokyo's The Nikkei reported.
Other real estate news
* Keppel Pacific Oak US REIT agreed to purchase a two-building office complex in Irving, Texas, from KBS SOR 125 John Carpenter LLC for an aggregate purchase consideration of US$101.5 million. The Singapore-listed trust, formerly known as Keppel-KBS US REIT Management, expects to spend US$105.2 million for the settlement of the deal concerning the One Twenty Five property.
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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.
Ian Cruz, Emily Lai and Jaekwon Lim contributed to this report.
