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Hankyu REIT closes ¥5.40B asset deal; Mustera buys neighborhood mall for A$16.5B

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Hankyu REIT closes ¥5.40B asset deal; Mustera buys neighborhood mall for A$16.5B

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

Japan

* Hankyu REIT Inc. completed, as planned, its ¥5.40 billion acquisition of the Mets Ozone retail property in Nagoya, which comprises a 34,384.04-square-meter building with leasable area spanning 15,681.37 square meters and a multistory parking lot that can accommodate up to 558 vehicles.

Australia

* Mustera Property Group Ltd.'s Mustera Property Fund officially purchased the Shoalwater Shopping Centre in the Shoalwater suburb of Perth for A$16.5 million. The neighborhood shopping center, which has a gross leasable area of approximately 4,700 square meters and houses a supermarket, medical center, tavern and 16 specialty stores, was the first property that the fund bought to mark its launch.

Other geographies

* Cromwell Property Group sold the Rotterdam Science Tower and Port Park Pernis properties in the Netherlands for an undisclosed price, Property Investor Europe reported Feb. 16, citing a company announcement. The disposal was part of a bank workout mandate that Cromwell secured in 2014.

Rotterdam Science Tower offers lab and office spaces, while the 21,500-square meter Port Park Pernis is composed of four office buildings.

* The number of properties in Cromwell European REIT's portfolio was increased to 74 following the Singapore-listed real estate investment trust's settlement of its €17.4 million purchase of the Firenze asset at Via della Fortezza No. 8 in Florence, Italy, which was valued by Colliers International at €16.7 million as of April 30, 2017.

Cromwell European REIT was able to acquire the property after the Italian Republic turned down an option to buy the freehold, fully leased asset with leasable area of 9,150 square meters.

Additional coverage

Industrial & Infrastructure to buy 10 Japanese assets for ¥21.4B

Qatar Airways acquires Melbourne hotel for A$135M

Melbourne development site on sale for A$100M

DLF looks to sell 150B rupees of apartments in new sales strategy

Indiabulls to exit Chennai, India, reorganize commercial leasing business

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As of Feb. 20, US$1 was equivalent to ¥107.30.