FINWIRES · TerminalLIVE
FINWIRES

Advance Residence Investment to Buy Two Tokyo Residential Properties for 4.06 Billion Yen

By

Advance Residence Investment (TYO:3269) decided to acquire two residential properties in Tokyo for a total acquisition price of about 4.06 billion yen, according to a Tokyo bourse filing on Tuesday.

The first property, RESIDIA Shoin-jinja-mae, will be acquired from ITOCHU Property Development for 2.84 billion yen, while the second asset, a trust beneficiary interest in RESIDIA Tokiwadai in Itabashi, will be bought from an undisclosed seller for 1.22 billion yen.

Both properties will be managed and master-leased by ITOCHU Urban Community, the company said.

To partially fund the acquisitions, the REIT arranged multiple debt financings totalling 4.2 billion yen, with drawdowns scheduled between May 27 and 28, according to a separate disclosure.

Further, the REIT secured another 1.56 billion loan to repay existing debt due on May 29.

Related Articles

Asia

Malakoff Unit Sign Power Purchase Deals With Tenaga Nasional

Malakoff (KLSE:MALAKOF) units - GB3, and Segari Energy Ventures - signed new power purchase agreements with Tenaga Nasional (KLSE:TENAGA) to extend operations of their gas-fired power plants in Perak, Malaysia, according to a Monday Malaysian bourse filing.Malakoff's shares slid 2% in Tuesday's late morning trade, while those of Tenaga Nasional were flat.The deals cover the 429-megawatt open cycle gas turbine plant operated by GB3 and the 1,303-megawatt combined cycle gas turbine plant operated by SEV.The GB3 plant is scheduled to begin operations under the new agreement by Jan. 1, 2027, while the SEV plant is set to start by July 1, 2027. Both agreements will expire on Dec. 31, 2029, it said.The GB3 plant's original 21-year PPA expired in December 2022, while the SEV plant's initial 21-year agreement expired in June 2017 and was followed by a 10-year extension ending in June 2027, the filing said.

KLSE:MALAKOFKLSE:TENAGA
Asia

Shenzhen Expressway to Issue 1 Billion Yuan in Bonds

Shenzhen Expressway (SHA:600548, HKG:0548) plans to issue on Tuesday 1 billion yuan in three-year medium-term bonds to repay maturing debts, according to a Monday filing with the Shanghai bourse.Payment is scheduled for May 20, with listing and trading on the interbank market set for May 21.Lead underwriters are China CITIC Bank and Shanghai Pudong Development Bank.Shares of the toll road operator rose 1% in recent trade on the Shanghai bourse.

HKG:0548SHA:600548
Asia

Island Pharmaceuticals Appoints Senior Global Health Security Adviser Ahead of Animal Rule Studies for Antiviral Drug Candidate; Shares Drop 6%

Island Pharmaceuticals (ASX:ILA) appointed US biodefense executive Mark Herzog as senior global health security adviser ahead of the start of its Animal Rule studies for galidesivir in Marburg virus disease, according to a Tuesday Australian bourse filing.Marburg virus disease, formerly known as Marburg haemorrhagic fever, is a fatal illness caused by the Marburg virus, according to the World Health Organization website.The company said it is on track to begin planned dose optimization studies in the September quarter, adding that it remains in advanced negotiations with US-based BSL-4 biocontainment facilities regarding the execution of its planned two-stage development pathway.Island Pharmaceuticals' shares dropped 6% in recent trading on Tuesday.

ASX:ILA