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Daiwa to buy Tokyo office for ¥1.8B; Yanlord takes 51% stake in China project

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

Japan

* Daiwa Office Investment Corp. is buying the 10-floor Prime Kanda Building office asset in Tokyo from an unnamed vendor for about ¥1.80 billion. The office-focused real estate investment trust will settle the transaction using cash on hand, with the property expected to be delivered June 7.

* Heiwa Real Estate REIT resolved to buy a 260.15-square-meter land at the HF Yushima Building complex in Tokyo for approximately ¥190.0 million. The transaction, scheduled to be executed May 28, will give the listed diversified property company full control of the office property, which also includes a building and land that Heiwa bought March 7, 2008.

China

* Singapore-listed diversified property developer Yanlord Land Group Ltd., through its Yanlord Land (Nantong) Co., Ltd. subsidiary, is investing an estimated 21 million yuan for the acquisition of a 51% stake in the owner of a 236,500-square-meter residential site in Nantong.

The site owned by Nantong Hechuang Real Estate Co. Ltd. has a 1.8 plot ratio, and the project company owns the development rights for the asset. Yanlord noted that the project is its second in the Chinese city and supports its expansion plan in the Yangtze River Delta area.

Additional coverage

Frasers Property to buy Dutch warehouse facility for €25M

Oxley JV puts WeWork-leased building in Dublin on market for €99M

RNY Property considers sale of remaining assets to majority stakeholder Aurora

United Urban enters ¥34B deals to sell 2 retail assets in Japan

As of May 24, US$1 was equivalent to 6.38 yuan and ¥109.21.