Thai Billionaire Walks Away with $1.6 Billion in Cash in Big Brewery Deal

» Featured Columnists | By Alex Finkelstein | September 28, 2012 11:24 AM ET

Thailand's business community is still buzzing over reclusive Thai billionaire Charoen Sirivadhanabhakdi's decision to drop his $7.2 billion bid for full control of Asia Pacific Breweries Ltd. and allow Heineken NV to proceed with its $4.5 billion bid for the largest brewery in Southeast Asia.

The billionaire owns a 30% stake in the joint venture of Asia Pacific Breweries and Fraser & Neave Ltd.  His $7.5 billion bid was for all of Fraser & Neave. When Heineken closes the deal at year end, the Thai billionaire will receive $1.6 billion in cash from dividend payouts on his 30% stake, according to Bloomberg.

MetLife Shells Out $210 Million to Refinance Bronx, NY Shopping Center

MetLife's Real Estate Investments Division has provided a five-year, fixed-rate 4 percent,  $210 million loan to refinance the 517,000-square-foot Bay Plaza Community Center located within the 1.3 million-square-foot shopping at Bay Plaza complex in Bronx, NY. Both properties are owned by New York City-based Prestige Properties & Development.

Bay Plaza Community Center is New York City's largest retail center, according to Commercial Property Executive.  The refinancing follows Prestige's recent ground-breaking for the $300 million enclosed Mall at Bay Plaza. The fashion mall will add 780,000 square feet to the 1.3 million-square-foot Bay Plaza site.

Regency Pays $59.5 Million for San Diego Shopping Center

Jacksonville, FL-based Regency Centers Corp. (NYSE: REG) announced it has purchased the 189,321-square-foot, 43-year-old Balboa Mesa Shopping Center in San Diego, CA for $59.5 million or $314.28 per square foot. The seller was Balboa Realty LLC.

With the acquisition of  Balboa Mesa, Regency said it owns 69 properties in California, including 10 retail centers totaling 1.5 million square feet in the San Diego market. Balboa Mesa is anchored by a 42,247-square-foot Vons supermarket, a 77,000-square-foot Kohl's department store and a 24,000-square-foot CVS pharmacy.

Illinois Lab-Testing Building Sold for $49.7 Million

Sysmex Corporate Center, a two-year-old, four-story, 162,739-square-foot pharmaceutical drug-testing and manufacturing facility in Lincolnshire, IL, has been sold for $49.7 million.   An affiliate of Phoenix, AZ-based Cole Real Estate Investments purchased the building from Chicago-based Bridge Development Co. LLC in an all-cash deal.

The building is 100 percent, triple-net leased to Sysmex American Inc. as its North and South American headquarters, according to the Chicago office of HFF which brokered the transaction and arranged financing for the buyer.  The lease is guaranteed by Sysmex Corp., a Japan-based company principally engaged in the health care business. The company is publicly traded on the Tokyo Stock Exchange (TYO: 6869.T)

Torrance, CA  Power Center Refinanced with $27.6 Million Loan

The Los Angeles, CA office of HFF has arranged a $27.6 million refinancing loan for Torrance Promenade, a 269,000-square-foot, 99 percent least retail power center in Torrance, CA.  HFF didn't disclose the name of the life insurance company that provided the loan to the borrower, KIR Torrance LP.

Major tenants at the center include Trader Joe's, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman's, Tuesday Morning and Party City.  HFF brokers John Crump and Robert Delitsky led HFF's investment team.

Argentine Billionaire Rescues Slumping Israeli Conglomerate

Argentine billionaire Eduardo Elsztain has invested $25 million in Tel Aviv-based IDB Holding Corp., saving the Israeli conglomerate from reported imminent bankruptcy, according to the Jersusalem Post. Esztain is also reported to have an option to increase his stake in the company by 30 percent by the end of the year. That new stake will cost the Argentine $75 million.

Nochi Dankner is the majority owner of IDB, one of the largest holding companies in Israel. Besides real estate assets, IDB's portfolio includes stakes in Cellcom, a mobile phone company; Shufersal, a supermarket chain and the Maariv newspaper.

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