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Link signs HK$12B deal with Gaw Capital; Sun Hung Kai unit wins data center plot

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Link signs HK$12B deal with Gaw Capital; Sun Hung Kai unit wins data center plot

* Link Real Estate Investment Trust, through Link Properties Ltd., agreed to sell 12 shopping centers in Hong Kong to a consortium led by Gaw Capital Partners for a combined consideration of approximately HK$12.01 billion. Blackstone Group LP and Goldman Sachs Group Inc. are also part of the consortium acquiring the retail portfolio under the deal that will deliver a net gain of about HK$2.79 billion, according to Mingtiandi.

* A subsidiary of Sun Hung Kai Properties Ltd.'s tech unit, SuneVision Holdings Ltd., placed the winning bid of nearly HK$5.46 billion for a data center site in New Territories, Hong Kong.

SuneVision's Easy Vision Development Ltd. subsidiary won the approximately 27,444-square-meter property in Tseung Kwan O, which also attracted subsidiaries of Mapletree Investments Pte Ltd., Sino Land Co. Ltd. and Far East Consortium International Ltd. The land was earlier valued at up to HK$3.75 billion.

Hong Kong and China

* Greenland Hong Kong Holdings Ltd.'s Guangxi Greenland Dixintie Real Property Ltd. unit secured the rights to buy two land parcels in Nanning, China, for about 1.14 billion yuan.

Guangxi Property (Group) Ltd., which is selling the development sites spanning about 24,854.09 square meters and 29,653.71 square meters through the Beibu Gulf Equity Exchange Group-administered auction, also owns a 40% stake in Guangxi Greenland, according to a filing.

* China SCE Group Holdings Ltd.'s Max Fresh Investments Ltd. subsidiary is buying a 51% stake in Hong Hui Development Co. Ltd. for 628.7 million yuan from Top Act Investments Ltd. Hong Hui owns Honghui Construction Development (China) Co. Ltd., which is the project company overseeing the operation of a mixed-use project spanning 92,103 square meters in Jiangsu, China.

* China Vanke Co. Ltd. is offering a maximum 5% discount at one of its residential projects in Longhua district in Shenzhen, China, to boost sale, The Paper reported. According to the report, property supply in the city in November reached a three-year high to 9,714 units, and the fact that developers are trying to brush up their earnings is the main reason for the keen competition in the market lately.

* China Resources Land Ltd.'s contracted sales in November increased on an annual basis by 28.7% to approximately 17.53 billion yuan, reflecting gross floor area of about 1,210,678 square meters. The Hong Kong-listed developer also noted in a news release that its rental income for the reporting month also grew during the comparable period by 24.5% to an estimated 833 million yuan.

* Wharf REIC Finance (BVI) Ltd. applied with the Hong Kong stock exchange for the registration of its US$3.00 billion medium-term note program. The one-year term debt shelf, which is expected to be listed on the bourse Dec. 13, is guaranteed by Wharf (Holdings) Ltd. and Wheelock and Co. Ltd.'s listed spinoff Wharf Real Estate Investment Co. Ltd.

* Agile Group Holdings Ltd. secured a HK$770 million loan facility from an unnamed bank and certain financial institutions. The three-year term credit line is subject to annual interest of 3.90% plus the Hong Kong interbank offered rate.

* Ping An of China Securities (Hong Kong) Co. Ltd. agreed to sell up to 1.90 billion yuan of 4.6% senior bonds due Dec. 18, 2021, on behalf of China Merchants Land Ltd.

Australia

* Charter Hall Retail REIT fully refinanced a A$210 million debt facility due in 2021 with separate facilities from the real estate investment trust's existing banks in the amounts of A$40 million and A$170 million that will respectively mature in 2022 and in 2023.

* Singapore's sovereign wealth fund GIC Pte. Ltd., through Primewest Counter Cyclical Trust, purchased the Exchange Tower office building in Perth's central business district for A$326 million from Primewest Management Ltd. and AMP Capital Wholesale Office Fund. The acquired 34,479-square-meter property is leased to tenants including ARUP, Fujitsu, Patersons, Morgan Stanley, Knight Frank, Bain International and Mitsubishi Australia.

* LaSalle Investment Management Inc., acting on behalf of the California State Teachers' Retirement System, amassed a landholding worth about A$200 million in Brisbane's Golden Triangle with the nearly A$52.3 million acquisition of an office building anchored by the University of Queensland, The Australian reported.

The real estate investment management company grew its foothold in the area to 2,500 square meters by buying the property at 293 Queen St. through the transaction brokered by CBRE Group Inc.

* GreenFort Capital and Hong Kong-based private equity firm Gaw Capital established a joint venture that will buy and develop a A$600 million portfolio of retirement living projects, The Australian Financial Review reported. The partnership is part of the Brisbane-headquartered alternative real estate specialist's plan to expand its Reside Communities retirement living business to 1,500 units across Australia's east coast.

Japan

* According to a JLL survey, office vacancy rates averaged 0.9% for Grade A properties in Tokyo at the end of November, down from 1% at the end of October, Jutaku-Shimpo-Sha reported.

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.

Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.