DEALS ROUND-UP
REIT ASIAPAC
Ichigo Hotel REIT Sells Hotel Vista Premio Kyoto
Deal Type : Property Disposal
Total Floor Area : 3,867.66 m
Deal Value : 4.5 billion yen (US$43 million)
Date : August 27
Shangri-La Expands Into Kyoto, Acquires Site Near Nijo-Jo Castle
Ichigo Hotel REIT’s sale of Hotel Vista Premio Kyoto is part of
their strategy to decrease their holdings in the Kyoto/Osaka
area, while increasing their presence in two other regional cities
by acquiring the Nest Hotel Kumamoto in April and the Valie
Hotel Hiroshima in July.
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TRANSACTIONS IN JULY COLLATED BY
THE NIKKEI REAL ESTATE REPORT
Invincible REIT To Acquire 18 Hotels For 83 Billion Yen
Deal Type : Property Disposal
Value : 82.65 billion yen (US$740 million)
Date : July 1
Invincible REIT is eyeing to acquire 18 hotels from US-based
Fortress Investment Group. The most expensive among the 18
properties is Hotel MyStays Sapporo Aspen, which is priced
at 15.54 billion yen (US$140 million). The deals will bring
Invincible’s hotel portfolio to 84 hotels.
Wework Leasing 1,920 Tsubos In Toranomon
Deal Type : Lease Agreement
Gross Floor Area : 6,350 m
Date : July 3
WeWork is set to lease eight floors in KDX Toranomon 1-Chome
Building. Kenedix Office REIT acquired the building in 2016 and
is currently its manager. WeWork’s lease agreement is 38.5%
higher than the rent paid by the previous tenant.
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Lendlease In Partnership To Invest 110-Billion-Yen In Data Centers In Asia Pacific
Deal Type : General Investment
Value : US$1 billion
Date : July 11
According to the Australian Financial Review, Lendlease has
partnered an institutional investor to established a US$1 billion
investment fund that targets data centers in the Asia Pacific
region. The partnership will be 20% funded by Lendlease and
80% by the institutional investor.
Deal Type : Acquisition
Gross Land Space : 4,727 m
Value : 8.15 billion yen (US$73 million)
Date : July 18
Shangri-La group acquired a development site near Nijo-jo
Castle in Kamigyo-ku, Kyoto City. Shangri-La Hotel Tokyo, which
is adjacent to Tokyo Station, is the hotel group’s only hotel in
Japan. The company is expected to construct its second hotel in
Japan in Kyoto, as other luxury accomodations recently started
building their presence in Kyoto.
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APL Starts Work On A Large Retail Facility In Yokosuka
Deal Type : Renovation
Value : 33.25 billion yen (US$300 million)
Date : July 23
Asia Pacific Land started its large-scale renovation work of
Shoppers Plaza Yokosuka, which is set to re-open on 2020. APL
fully acquired this facility in Yokosuka City, Kanagawa Prefecture
on September 2018 after buying the remaining floors from
Sumitomo Life Insurance.
Nomura Buys Office Building In Vietnam
Deal Type : Acquisition
Gross Floor Space : 17,000 m
Value : Undisclosed
Date : July 25
Nomura Real Estate Development acquired Zen Plaza in Ho Chi
Minh City, Vietnam, as part of its overseas business strategy.
Nomura is expected to invest 300 billion yen ($2.7 billion] by
March 2028. Its target countries include Thailand, Vietnam, the
Philippines and China among others.
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Sumitomo Secures Office Building Site In India
Deal Type : Acquisition
Gross Floor Space : 12,486 m
Value : 22.38 billion rupees ($320 million)
Date : July 26
The site will be leased for 80 years from an organisation
affiliated with the local government.
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Blackstone Invests 100 Billion Yen In Japan Warehouses
Deal Type : General Investment
Value : 100 billion yen (US$926 million)
Date : July 17
Blackstone Group is set to invest heavily on distribution centers
in Japan. The US investment firm is expected to buy five or
six sites from Singaporean state-owned property investor
Mapletree, according to the Nikkei Asian Review.
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