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ESR-REIT offers warehouse for S$24M; Parkway Life affiliate buys ¥1.5B facility

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ESR-REIT offers warehouse for S$24M; Parkway Life affiliate buys ¥1.5B facility

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

Singapore

* ESR-REIT's trustee, RBC Investor Services Trust Singapore Ltd., gave MSS Bukit Batok Pte. Ltd. the option to purchase the five-story industrial warehouse building at 9 Bukit Batok St. for S$23.9 million.

The property on offer occupies a triangular land parcel with an area of approximately 67,360 square feet and a gross floor area of roughly 157,860 square feet, with a 2.3 plot ratio and a 2.5 maximum allowable plot ratio. It has a remaining lease term of about 35 years.

* Oxley Holdings Ltd. subsidiary Oxley Pearl Pte. Ltd. signed a S$13.0 million deal with Huang Shi Zong Hui (Singapore) for the acquisition of the 99-year leasehold on a roughly 2,219.6-square-meter site in Geylang.

As part of the agreement, Oxley Pearl will develop on the site an eight-story mixed-use project, which will be named Sixteen35 Residences. The development will feature residential flats across four stories, a swimming pool, communal facilities and a basement carpark.

* A joint venture between Roxy-Pacific Holdings Ltd. subsidiary RP Ventures Pte. Ltd. and TE2 Development Pte. Ltd. is looking to buy the approximately 9,473-square-foot 19 Lorong Kismis residential site for nearly S$5.7 million.

If pursued, the proposed acquisition will allow Roxy-TE2 Development Pte. Ltd. to carry out its plan to combine the site with the 90,863-square-foot Kismis View site that it also agreed to purchase in January for about S$102.8 million. The combined development site is expected to have a total estimated land area of 100,336 square feet, according to a news release.

Japan

* Parkway Life Japan2 Pte. Ltd, an affiliate of Singapore-listed Parkway Life REIT, entered into a sale-and-leaseback deal to buy the Konosu Nursing Home Kyoseien rehabilitation facility from Iryouhoujin Shadan Kouaikai for approximately ¥1.50 billion.

The deal for the acquisition is expected to generate a 6.7% net property yield, with completion anticipated to take place within the first quarter of 2018, according to a news release.

* Tokyo-based Property Agent Inc. is selling a real estate property in Kanagawa for an undisclosed amount, Reuters reported, citing a Japanese filing.

Additional coverage

GPT markets mall for A$500M, buys A$74M industrial portfolio in Australia

Blackstone subsidiary to divest A$150M site in Brisbane, Australia

City Developments units clinch 2 residential sites in Singapore

Wang On Properties, unit sign HK$350M deal to sell 4 Hong Kong retail assets

Landsea Green to acquire property shares of CITIC Capital JV

Some external links may require a subscription. Articles and links are correct as of publication time.

As of Feb. 7, US$1 was equivalent to ¥109.51 and S$1.32.