BUZZ — Australia's Charter Hall rises as Citi backs $853 mln east coast property partnership

(Updates) * Shares of Charter Hall Group's rise as much as 1.1% to A$18.495 * For the week, CHC gains 1.5% so far, set to snap five-week losing streak * Citi says CHC's new partnership with Tokyo Tatemono and UBS Asset Management highlights strong demand for Australian real estate * Property investment firm on Wednesday disclosed details of the A$1.2 billion ($853.08 million) partnership to develop a portfolio of assets across Australia's east coast * Brokerage says agreement supports further FUM growth and fee income opportunities for co * Adds Citi sees CHC to remain a beneficiary of institutional capital inflow into Australia despite tight conditions * Brokerage rates stock "buy", price target at A$22 * Six of 10 analysts rate the stock "buy" or higher, three "hold" and one "sell"; their median PT is A$22.80 - LSEG data * CHC down 24.7% YTD, including session's moves ($1 = 1.4067 Australian dollars) (Reporting by Paridhi Minda & Subhalakshmi Dey in Bengaluru) ((Paridhi.minda@thomsonreuters.comSubhalakshmi.Dey@thomsonreute rs.com;)