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GLP trims stake in $1.5B fund; Asian investors plan more RE spending

* Global Logistic Properties Ltd.'s US$1.5 billion GLP US Income Partners III fund attracted new capital when the company clinched US$26.0 million in cash from a co-investor, reducing its stake in the fund to 74.1% from around 82.2%.

* Asia-Pacific investors are planning to increase their allocated spending for global real estate by 2.0% to 10.4% for 2017, as worldwide investment is expected to amount to more than €52.6 billion for the full year, according to an Investment Intentions survey.

* Moody's said Sino-Ocean Group Holdings Ltd., Yuexiu Property Co. Ltd., Ascott Residence Trust and Soilbuild Business Space REIT are some of the Asian companies that may lose their investment-grade ratings if their credit profiles don't improve by year-end, Kaven Tsang, a Moody's vice president and senior credit officer, said in a note.

Hong Kong and China

* Moody's revised its outlook on Sunac China Holdings Ltd.'s B2 corporate family and B3 senior unsecured ratings to negative from stable. The rating agency affirmed the ratings at the same time.

The new outlook reflected Moody's belief that the company increased its business risks by entering into a 15.04 billion-Chinese-yuan investment agreement with three Chinese online and technology companies.

* Hong Kong's Urban Renewal Authority invited 42 property developers to submit bids for the development of the first stage of the Peel Street/Graham Street project. The first of several phases is expected to yield 116 residential units and 1,460 square meters of multipurpose and commercial space. Bids will be accepted until noon Feb. 20, local time.

* National Bureau of Statistics data showed that full-year 2016 home prices in China grew at their fastest pace since 2011. The growth, however, moderated in December 2016, when average home prices in 70 key cities increased 12.4% compared to 12.6% in November, Reuters reported.

Australia

* The New South Wales government has opened the second round of bidding for its Land and Property Information unit, as interested parties are preparing final offers ahead of the March deadline, The Australian Financial Review reported.

* JLL data showed that office rents in Sydney increased 6% in the fourth quarter of 2016, while rents in Melbourne rose 4% in the same period, the AFR reported. For 2016, office rents in both cities recorded double-digit growth as vacancies dropped and supply became tighter.

Japan

* Comforia Residential REIT Inc. priced its issuance of 47,800 new investment units at ¥243,252 per unit. The company plans to use a portion of the proceeds from the approximately ¥11.63 billion issuance to fund its acquisition of eight properties.

* Invesco Office J-REIT Inc. plans to acquire a stake in the Kinshicho Prime Tower in Koutou-ku, Tokyo, for around ¥15.15 billion from Godo Kaisha Condor Property, according to a filing.

* Mitsubishi Jisho Residence Co. Ltd. started work on a 13-level, 2,999-square-meter building in Chiyoda Ward, Kentsu Shinbunsha reported.

* Mitsubishi Estate Co. Ltd. Chairman Keiji Kimura said that, despite the public perception that demand for new homes is decreasing, there is an increasing demand for existing-home renovation and rebuilding, Sankei reported.

Singapore

* National Australia Bank and Oxley Group sold their combined 80% stake in Cambridge Industrial Trust's manager, Cambridge Industrial Trust Management Ltd., to e-Shang Redwood Ltd.

India

* An Indiabulls Real Estate Ltd. subsidiary returned a land parcel in South Delhi to the Delhi Development Authority in exchange for 7.01 billion Indian rupees, pursuant to a Supreme Court ruling, the Press Trust of India reported.

Now featured on S&P Global Market Intelligence

The Eastern Front: Bullish land auction unlikely to signal residential rebound in Singapore: Some unexpectedly strong land bids might not necessarily signal renewed optimism in Singapore's private housing market, and the sector is likely to remain on a losing streak, industry observers told S&P Global Market Intelligence.

Data Dispatch Europe: 109 SNL-covered European real estate companies trading at implied upside: PATRIZIA Immobilien AG, based in Germany, traded at the largest implied upside to its price target estimate on Jan. 13, at 42.13%.

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 and John Chan contributed to this report.