By Anshuman Daga
The deal is a likely first consolidation in Singapore’s $3.5 billion mid-cap industrial trusts sector.
The Ascott has invested S$170.3 million into Funan’s co-living component.
The project would be funded primarily through capital that it received separately from Warburg Pincus and Goldman Sachs in 2015.
The project integrates a casino, a resort, a golf course and residential areas
Max Tower has a total developable area of 600,000 sq. ft on 3,352 sq. m of land parcel.
These include Origin Prime 2, Origin Ramkhamhaeng, Origin Sphere and Origin Vertical.
Perennial Real Estate and Datapulse Technology are seeking to dispose of their respective property assets. Perennial leads consortium sale of AXA Tower for S$1.65b Perennial Real Estate Holdings Limited (Perennial) is to lead a consortium in the en bloc sale of AXA Tower at a consideration not less than S$1.65… Read more »
The first Asia fund corpus would be around $300 million.
The deal follows Fosun’s purchase of fund manager Rio Bravo last year.
The Thai player is keen to tap demand for properties from overseas buyers.