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Landsea Green sheds stakes in 2 projects; Invincible eyes ¥3B from 3-asset sale

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

China

* Nanjing Langqing Property Co. Ltd., an indirect wholly owned subsidiary of Landsea Green Properties Co. Ltd., entered into separate agreements to sell 60% stakes in two project companies that are developing two sites in Suqian City to Sichuan BRC Hejun Industrial Co. Ltd. for nearly 129.6 million yuan and roughly 111.4 million yuan, respectively.

As part of the deals, the adjoining residential sites measuring 70,211 square meters and 61,208 square meters will be jointly developed with Sichuan BRC Hejun.

Proceeds from the stake divestments will be used by Landsea Green and its subsidiaries to finance certain property development initiatives.

Japan

* Invincible Investment Corp. is hoping to rake in roughly ¥2.59 billion from the sale of the Shinjuku Island, Cross Square NAKANO and Ohki Aoba Building office properties to separate buyers. The company said in a filing that proceeds from the transactions could be invested into higher-yielding properties.

Australia

* Oxley Holdings Ltd. subsidiary Oxley Australia Pty. Ltd. paid A$4.8 million to secure a 25.5% stake in Pindan Capital Mermaid Beach Pty. Ltd., which owns a 1,417-square-meter residential site on the Gold Coast.

In a filing, Oxley Holdings said a 74.5% stake in Pindan Capital is indirectly held by Pindan Group Pty. Ltd., which is 40%-owned by the Singapore-listed company and its subsidiaries.

Additional coverage

Hangzhou Binjiang subsidiary wins 1.03B yuan land in China

Shenzhen Investment wins bids for 2 Chinese sites

Oxley Holdings subsidiary agrees to buy 8 Singaporean sites for S$38M

Landsea Green subsidiary inks deal to shed 48% stake in Chinese project company

MORI TRUST to pay ¥8.1B for Tokyo office building

As of Dec. 27, US$1 was equivalent to 6.56 yuan and ¥113.32.