Friday, March 16, 2012

Robinson Point, 2HR placed on the market

Business Times: Thu, Mar 15
(SINGAPORE) US property fund manager AEW has put Robinson Point in the Central Business District and 2HR at Havelock Road on the market with pricing expectations of about $306 million and $300 million respectively, BT understands.

The group is also said to have recently granted an option for the sale of four adjoining three-storey shophouses at Amoy Street for nearly $33 million.

The AEW-managed fund that holds the three Singapore properties is also said to have sold assets in China and Hong Kong last year. The fund still has a few more years to run but reaping a profit from divesting assets could prove to be a strategic move in terms of cementing the track record of the group, which is said to be in the midst of raising a new Asia fund, suggest some market watchers.

Sales of both 2HR and Robinson Point are expected to be structured through sale of shares in the respective companies which own the two assets...

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Team Marshe
Martin Koh/ Sherry Tang
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