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HNA selling $6B of overseas properties; ARA Asset to buy Blackstone portfolio

* The acquisitive HNA Group Co. Ltd. is reportedly looking to sell US$6 billion of properties in New York, San Francisco, London, French Polynesia and Australia. The Chinese conglomerate is raising funds to help finance the repayment of debt that it incurred since 2015 after it embarked on a more than US$40 billion buying spree.

In November, HNA Group's CEO Adam Tan revealed that the conglomerate is mulling an exit from overseas investments, especially in sectors where capital injections are discouraged by the Chinese government.

* Singapore's ARA Asset Management is conducting due diligence on Blackstone Group LP's 10-asset industrial portfolio, which is on offer for about A$200 million. The logistics properties are on Australia's eastern seaboard and house tenants including Carter Holt Harvey and DHL, according to The Australian Financial Review.


* Daiwa Office Investment Corp., under separate deals, agreed to sell a roughly 43% stake in the 34-story Shinjuku MAYNDS Tower in Shinjuku, Tokyo, to Singaporean wealth fund GIC for ¥62.5 billion and its Daiwa Meieki Building in Nagoya City to an unnamed domestic corporation for ¥8.30 billion.

* Separately, Daiwa Office also agreed to buy the CONCURRED Yokohama office asset in Kanagawa from Godo kaisha Yokohama Office Management for ¥38.10 billion, as well as the Nippon Manpower Building in Tokyo from an unidentified vendor for ¥4.20 billion.

* PGIM Real Estate purchased on behalf of institutional investors the 18-story J Tower in Tokyo and the 13-story Toyobo Building in central Osaka for an undisclosed amount, IPE Real Assets reported.

* Mitsui Fudosan Co. Ltd. recently opened a shared-offices property fronting the Tokyo Station, as the co-working office trend continues in Japan, Tokyo's The Nikkei reported.

Hong Kong and China

* China Vanke Co. Ltd. and China Evergrande Group separately won auctions for two commercial sites in Shenzhen after respectively placing bids of 3.1 billion yuan and 5.55 billion yuan, Reuters reported, citing Shenzhen Land & Real Estate Exchange Center.

* Two subsidiaries of Shui On Land Ltd. entered into an agreement to sell a 49.5% stake in a property portfolio held by the company's Shanghai Rui Hong Xin Cheng Co. Ltd. joint venture to a limited partnership affiliated with China Life Insurance (Group) Co.

Approximately 3.61 billion yuan in net proceeds is expected from the deal, which was made in pursuit of Shui On's asset-light strategy.

* Fortune Real Estate Investment Trust is selling for about HK$2.00 billion its interests in the Provident Square complex in Hong Kong to Farsight Investment Ltd.

* Hong Kong-based investor Kingboard Chemical Holdings Ltd. was revealed by the South China Morning Post as the seller of a 49% stake in a commercial development project in Shenzhen that Shimao Property Holdings Ltd. agreed to purchase for 3.20 billion yuan.

* CapitaLand Ltd. is planning to buy for 838 million yuan the commercial site adjacent to its Innov Center in Shanghai for the proposed development of a grade A office with a total gross floor area of 37,765 square meters.

* New World Development Co. Ltd. is hoping to entice first-home buyers by offering initial down payments of as low as 7.5% for 15 units at its 100-unit The Parkville project in Tuen Mun, Hong Kong. The sale of the flats is part of the company's pilot NewGen First Home Program, which would enable fresh graduates to buy homes with low down payments, the SCMP reported.

* Controlling shareholder Wintime Co. Ltd. sold 150,000,000 shares of GR Properties Ltd. to Chance Talent Management Ltd. at a price of HK$1.2 apiece. Completion of the roughly HK$180.0 million investment is expected on or before Dec. 21.

* CIFI Holdings (Group) Co. Ltd. issued, as planned, US$300 million of senior perpetual capital securities at an initial annual distribution rate of 5.375%. Listing of the securities that were offered to professional investors is expected on the Hong Kong stock exchange Dec. 20.

* Beijing Capital Land Ltd. entrusted First Capital Securities Co. Ltd. with the responsibilities to manage up to 2.00 billion yuan of its properties for three years, subject to extensions.


* Asia Pacific Data Centre labeled NEXTDC Ltd.'s call for the data center's dissolution as "premature and ill-founded." The proposal to wind down the trust came after it disclosed plans to establish a new A$100 million facility with Bankwest and National Australia Bank.

* Cromwell Property Group is buying a 6,000-square-meter office building in the Brisbane suburb of Spring Hill from Alceon Group Pty. Ltd. for A$42 million, the AFR reported. The deal for the asset, which will be held by Cromwell Direct Property Fund upon the transaction's completion, was struck on a 6.7% yield.

Southeast Asia

* OUE Hospitality Trust obtained two term loan facilities and two revolving loan facilities with an aggregate amount of S$980 million through a deal signed with a syndicate of banks.

* Vista Land & Lifescapes Inc. subsidiary VLL International Inc. is planning to redeem Dec. 21 all its outstanding 6.75% guaranteed notes due 2018 and 7.45% guaranteed notes due 2019, issued at US$100.0 million and US$225.0 million, respectively.

* Singapore's Urban Redevelopment Authority launched the public bidding for a 1.9-hectare West Coast Vale residential site, with a reserve price of nearly S$380.0 million.

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.

As of Dec. 19, US$1 was equivalent to 6.60 yuan, ¥112.98 and S$1.35.