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ESR seeks US$1.45B from Hong Kong IPO; Unizo opens up to Blackstone talks

* Logistics property developer ESR Cayman Ltd. is aiming to raise up to US$1.45 billion from its relaunched IPO in Hong Kong. The Warburg Pincus LLC-backed company is expected to debut on the bourse on Nov. 1 after the offering, which will comprise approximately 654 million shares with an indicative per-share price of between HK$16.20 and HK$17.40.

* Unizo Holdings Co. Ltd.'s board agreed to continue discussions with Blackstone Group Inc. after deciding that the private equity giant's roughly ¥171.1 billion takeover offer "could help maintain and improve corporate value and secure shareholders benefit," Reuters reported, citing the targeted Japanese hotel chain operator.

Greater China

* Yuexiu Property Co. Ltd. launched the public tender for an integrated property complex in the Nanhai district of Guangzhou, China.

* Modern Land (China) Co. Ltd. committed to investing up to 536.1 million yuan for the joint development of a residential land parcel in Shijiazhuang, China. The property company is developing the project under partnership deals with Tongfu Group Co. Ltd., according to a filing.

* Shenzhen Investment Ltd.'s contracted sales in September dropped 7.1% year over year to about 472 million yuan, reflecting contracted sales area of approximately 23,797 square meters. Despite the decline during the reporting month, the company's contracted sales for the nine months ended Sept. 30 rose 33.6% year over year to nearly 7.64 billion yuan.

* According to a Citigroup Inc. report, the prospects for the stocks and interest rates of property developers from China are positive, with gains expected to continue in the fourth quarter and until 2020, Sina News reported. Preferred stocks include those of Shimao Property Holdings Ltd., Cifi Holdings (Group) Co. Ltd., Logan Property Holdings Co. Ltd. and Longfor Group Holdings Ltd.

Southeast Asia

* More than 99% of the total votes cast during Ascott Residence Trust and Ascendas Hospitality Trust's respective extraordinary general meetings were in favor of the proposed merger of the two companies, which is expected to create the largest hospitality trust in Asia-Pacific with an asset value of S$7.6 billion.

* Mapletree Logistics Trust is buying a logistics property in Malaysia for about 826.0 million ringgit. The Singapore-listed real estate investment trust is also spending US$38.9 million for the purchase of two logistics properties in Vietnam and about 314.3 million yuan for the acquisition of 50% stakes in each of four similar properties in China.

* Mapletree Commercial Trust obtained a S$670.0 million green club loan to help finance its planned acquisition of Mapletree Business City Phase 2 and nearby commercial spaces in Singapore. For the same purpose, the REIT earlier unveiled plans to raise at least S$902.3 million through an equity fundraising.


* Embassy Office Parks REIT, Actis LLP and Singapore's sovereign wealth fund GIC Pte. Ltd. are among the buyers competing for Mapletree Investments Pte. Ltd.'s Global Technology Park in Bengaluru, Mint reported, citing three people familiar with the transaction. Bids for the property on offer are estimated between 23.00 billion rupees and 24.00 billion rupees.


* Charter Hall Group proposed to add a six-level podium in an existing building within its Wesley Place development at 150 Lonsdale St. in Melbourne as part of the final portions of the refurbishments being done to the A$1.3 billion precinct, The Australian Financial Review reported. The latest update to the project is expected to yield a A$300 million property that will provide 29,000 square meters of office space.

* Colliers International Group Inc. is marketing a seven-hectare development site in the coastal town of Eden in New South Wales on behalf of Heinrich Ruiz de Roxas and Lu Lin Yong, directors of Eden Resort Hotel, the AFR reported. The mixed-use project intended for the site is expected to lift the property's value to more than A$400 million upon completion.

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.