trending Market Intelligence /marketintelligence/en/news-insights/trending/SlGKJhD4j6KxxQZlJljpcA2 content esgSubNav
In This List

AEON signs ¥62B property deal; Daiwa JV takes 75% stake in Waldorf


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

AEON signs ¥62B property deal; Daiwa JV takes 75% stake in Waldorf

* AEON REIT Investment Corp. plans to acquire four shopping malls and an industrial property in Japan for ¥62.10 billion. Tokyo Century Corp. and AEON Retail Co. Ltd. are the sellers. AEON REIT plans to issue 310,900 of new investment units to help fund the acquisition.

* A joint venture between Japanese companies Daiwa Living Management Co. Ltd. and Cosmos Initia Co. Ltd. acquired a 75% stake in Waldorf Australia and New Zealand Group for an undisclosed price. Waldorf's portfolio includes more than 1,500 serviced apartments that are let to travelers in Sydney, Canberra, Perth and Auckland, New Zealand.


* Cbus Property sold the hotel component at its A$$1.25 billion Collins Street development in Melbourne to Japanese company Daisho for A$220 million, The Australian Financial Review reported. The 15-floor hotel has 294 rooms, while the whole building also offers 205 apartments and 49,000 square meters of office space.

* GPT Group plans to keep up with competition by increasing its presence in a major office spot in Sydney's Parramatta region, and it is in talks to buy the Salvation Army's roughly A$30 million property at the district, The Australian reported.

DEXUS Property Group, Lang Walker and Eureka Funds Management are some of the companies that actively operate in Parramatta, according to the publication.

* Golden Age Group is selling the 174-room Sheraton Melbourne Hotel on Little Collins St. in Melbourne. a transaction that could yield up to A$140 million for the seller, the AFR reported, citing market observers.

* Dubai-based Gates ­Hospitality abandoned a plan to develop a Six Senses Hotels Resorts Spas on Queensland's Long Island, as it was purportedly unable to secure a lease extension over the jetty, The Australian reported. The company wanted a 25-year lease for the jetty, which has a remaining seven-year lease to the Queensland government.

Hong Kong and China

* Guangzhou R&F Properties Co. Ltd.'s Easy Tactic Ltd. plans to issue US$460.0 million of 5.75% senior notes due 2022, which will be consolidated and form a single series with its previous issuance of US$265.0 million of notes. The issuer priced the latest issuance at 99.146% of the principal amount, plus accrued interest from Jan. 13 up to, but excluding, Jan. 20.

* New World Development Co. Ltd. Chairman Henry Cheng Kar-shun is on leave to rest as he has not been feeling well, The (Hong Kong) Standard reported, citing a company statement. The company added that the company's business operations, meanwhile, continue as normal.

* The Hong Kong government forecasts 94,000 new housing units to be brought to the market in the next three to four years, according to the Hong Kong Economic Times.

* China saw a total of 209 billion Chinese yuan in local commercial real estate deals in 2016, up 52% year over year, creating the highest annual turnover on record, according to Tencent.


* Kenedix Office Investment Corp. acquired a trust beneficiary interest in the Nishi-Shinbashi TS Building in Minato-ku, Tokyo, for ¥8.40 billion, while it sold its stake in the KDX Nihonbashi Kabutocho Building in Chuo-ku, Tokyo, for ¥12.40 billion.

* A new landmark building will open in April at the former site of the Matsuzakaya department store in Tokyo's Ginza district, The Asahi Shimbun reported. The 13-story GINZA SIX shopping complex targets high-end shoppers and foreign tourists.

* Mitsubishi Jisho Residence Co. Ltd. will open sales for its 494-unit The Park House apartment complex in Kokubunji within Tokyo Metropolis in March, Jutaku-Shimpo-Sha reported.


* InterContinental Hotels Group Plc debuted in Laos with the opening of the 197-room Crowne Plaza Vientiane hotel.


* The country's affordable housing sector stands to benefit from the government's plan to give the sector infrastructure status and to extend the affordable housing program to five years. Property sales are also expected to received better tax treatments. Shares of Indian property developers such as DLF Ltd., Godrej Properties Ltd. and Oberoi Realty Ltd. "could be affected," Bloomberg News reported.

* In a statement, Sobha Ltd. "whole heartedly" welcome the government's Union Budget and particularly noted that it will assist in making homes more affordable.

* Ascendas India Trust will acquire the Blueridge IT/ITES Special Economic Zone Phase II in Hinjewadi, Pune, for not more than 6.9 billion Indian rupees. The company plans to buy the property to improve its presence in Pune's IT/ITES markets.

Other real estate news

* Global Logistic Properties Ltd. increased its land bank in Chicago to more than 11 million square feet by acquiring two distribution facilities with 448,000 square feet of space in separate deals for a combined US$33 million.

Now featured on S&P Global Market Intelligence

Data Dispatch Asia-Pacific: Tokyo office market heyday on the wane: Tokyo's brisk office leasing market is approaching a tipping point in 2017 as a large amount of new supply comes online and demand softens.

Data Dispatch: In echo of '07, REITs back away from multifamily: After a long climb in the value of multifamily properties, REITs sold off apartment buildings in 2016 at a pace not seen in nearly a decade.

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. Articles and links are correct as of publication time.

Cam Nones, Jaekwon Lim and Spencer Sheehan contributed to this report.