This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.
* SunlandGroup Ltd. abandoned a A$600 million twin-building plan on the GoldCoast amid uncertainty over a government decision regarding a masterplan forThe Spit precinct, The Australian reported,citing Sunland Chairman Soheil Abedian.
* Chairman David Chiu Tak-cheong said the company is ramping upits expansion in Australia due to factors such as the country's favorableimmigration policies, increased market appetite of Chinese buyers and high landprices in Hong Kong, the South ChinaMorning Post reported.
* IndustriaREIT settled the A$158.6 million acquisition of the WesTracNewcastle facility in Tomago, New South Wales. The company funded the purchasewith an A$85.0 million equityraising and drawdown from existing and new debt facilities.Pro forma gearing following the acquisition is 35%.
* DEXUSProperty Group is in pole position to acquire the mall for close toA$140 million, The Australian FinancialReview reported.The more than 10,000-square-meter shopping center in the central businessdistrict of Perth is among the biggest malls in the area.
The AFR separatelyreportedthat DEXUS secured long-term lease deals with Iron Mountain and MTD Products.The two are the major tenants at DEXUS Wholesale Property Fund's DriveIndustrial Estate in Brisbane.
* IngeniaCommunities Group plans to sell the majority of its Deferred ManagementFee portfolio. The company exchanged contracts with Forum Partners for the saleof the five assets.
The transaction will immediately release A$41 million of netcash that will be redeployed in growth opportunities. Ingenia expects to settlethe transaction by the end of 2016.
* PropertylinkGroup completed the A$9.6 million sale of a vacant industrialasset at 36-52 National Blvd. in Campbellfield, Victoria, to an owner-occupier.
* Daiwa HouseREIT Investment Corp. said that it completed the acquisition of six propertiesfor an aggregate price of ¥17.21 billion. The properties are the NahaShin-Toshin Center Building, D Project Hibiki Nada, D Project Morioka II,Castalia Ningyocho III, Royal Parks Umejima and Sports Depo and GOLF5Kokurahigashi IC Store.
* Japan RealEstate Investment Corp. said that it plans to acquire Shimizu Corp.'s KanazawaKamitsutsumicho Building in Kanazawa City, Ishikawa Prefecture, for ¥2.78billion. The company intends to use its own funds to finance the acquisition.
Kanazawa Kamitsutsumicho Building has a 1,561.80-square-meterland area and 9,619.96 square meters of building area. The building has officesand shops with 21 tenants. The cap rate for the transaction is 5.8%.
* KenedixResidential Investment Corp. intends to buy the Serenite Nishinomiya Hommachiproperty in Nishinomiya-shi, Hyogo, for ¥617.0 million from an undisclosedseller.
Serenite Nishinomiya Hommachi covers a site area of 456.72square meters and a total floor area of 1,740.00 square meters. Kenedix intendsto use cash on hand to fund the acquisition.
Powerlong RealEstate Holdings Ltd. said that Powerlong Land Development Ltd. and ShanghaiLongqian Industrial Development Co. Ltd. signed a cooperation deal for thedevelopment of a 154,554.17-square-meter land parcel in Suzhou.
Pursuant to the deal, Powerlong Land Development will form a50/50 joint venture with Shanghai Hongxing Mei Kailong Enterprise DevelopmentCo. Ltd., with Shanghai Longqian to make a 300.0 million-Chinese-yuaninvestment to acquire a 50% equity interest in Suzhou Hongxing.
SoilbuildBusiness Space REIT completed the approximately S$100.5 millionpurchase of the BukitBatok Connection property, according to a filing.
The company has entered into a master lease agreement withthe seller, SB (Westview) Investment Pte. Ltd., to lease-back the property toSB (Westview) for seven years on a double net lease basis.
Vicinity sealsA$224.6M deals to sell stakes in 2 Australian assets: The dealswill close in October and November.
CapitaLandplans 2-tower residential development on newly acquired Vietnamsite: The company acquired the site for US$51.9 million.
Yanlord Landunit buys 2 Chinese sites for 3.69B yuan: Nanjing RenyuanInvestment acquired the sites in Suzhou, China, via two public land auctions.
Anbangcompletes most of Strategic Hotels acquisition: The Chinese insurerpurchased 15 of the 16 properties in the former Strategic Hotels & ResortsInc. portfolio from Blackstone Group LP, Bloomberg reported.
Charter Hallto list A$1B office-focused REIT in October: The REIT will investin Australasian assets that are leased long-term to government and corporatetenants.
SM Prime tospend up to 70B Philippine pesos for 2017 developments: The companyconfirmed a report from The Manila Timesin which Jeffrey Lim, SM Prime executive vice president, said that the 2017budget will be for the construction of malls, offices and hotels.
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