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Boyuan sells hotel amid strategic review; Axis REIT to buy 2 industrial sites

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Boyuan sells hotel amid strategic review; Axis REIT to buy 2 industrial sites

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

Australia

* Boyuan Holdings Ltd., as part of a strategic review of its business, divested the Peachtree Hotel in Sydney's Penrith suburb to Marlow Hotels Group for A$16.5 million, The Australian Financial Review reported. The hotel, which covers a 1-hectare site adjacent to a Bunnings store, was acquired by Boyuan in 2017 for A$15.5 million.

Malaysia

* Diversified property developer Axis Real Estate Investment Trust is buying two freehold industrial lands in Johor from Axis AME IP Sdn. Bhd. for a combined consideration of 38.7 million ringgit.

At the center of the sale-and-purchase agreement are properties that both comprise a single-story detached factory with mezzanine office and other ancillary buildings. The first asset with 132,706 square feet of lettable area is leased to Beyonics Precision Malaysia Sdn. Bhd., while the second property with 33,448.23 of lettable area is home to Oerlikon Balzers Coating Malaysia Sdn. Bhd.

Japan

* Retail facilities-focused Frontier Real Estate Investment Corp. signed a roughly ¥2.02 billion deal for the purchase of the Summit Store Higashi-Nagasaki property in Tokyo from an undisclosed vendor. Comprising the property are two land plots with a combined area of about 4,000 square meters, a dental clinic, a Tokyo Police Department Community Safety Center and a 47-lot single-story parking space.

Other geographies

* Queens Bilderberg (Nederland) BV, a 31.4%-owned subsidiary of Singapore-listed First Sponsor Group Ltd., is selling the 65-room Bilderberg Landgoed Lauswolt hotel in Beetsterzwaag, the Netherlands, for nearly €6.9 million to a subsidiary of Landgoed Oranjewoud Participaties BV. The hotel under consideration spans roughly 6,815 square meters and is operated by an affiliate of First Sponsor.

Additional coverage

Indian Hotels submits separate bids for 3 Indian hotels

China Aoyuan unit agrees to buy Hong Kong property for HK$950M

Nippon REIT to buy 21 Japanese assets for ¥40.2B

Swire Properties closes HK$6.53B sale of investment property in Hong Kong

Google agrees to buy 2 Sydney sites from Aqualand for A$150M

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