SG Realty: Metro buys London property; First Sponsor & Roxy Pacific acquisitions

In multiple real estate related developments, Metro Holdings, First Sponsor and  Roxy Pacific have struck deals to acquire properties.

Metro Holdings JV acquires London property

Metro Holdings has formed a 50:50 joint venture (JV) with Singapore-based Lee Kim Tah Group to acquire a freehold office property at 5 Chancery Lane in London for £80.8 million (S$148.2 million), a filing said.

The transaction will be financed by internal funds and bank borrowings. The property comprises 84,836 sq ft of office and ancillary facilities over eight floors currently fully leased until 2023. It is located in a central and traditional office location in the heart of Midtown Central London.

First Sponsor acquires stake in Hotelmaatschappij Rotterdam BV

First Sponsor’s subsidiary, FS NL Holdings, along with four other investors, is acquiring the 8,500 issued shares in Hotelmaatschappij Rotterdam BV, from Park Intermediate Holdings for €50.4 million (S$81.5 million), according to a filing with the SGX.

First Sponsor is financing the transaction with existing internal cash resources and committed credit facilities.

Hotelmaatschappij Rotterdam BV currently owns the 254-bedroom Hilton Rotterdam Hotel in the Netherlands.

Roxy Pacific acquires prime property

Roxy-Pacific Holdings has acquired a prime District 10 property for re-development through an en bloc sale, an SGX filing said. Its subsidiary RP Ventures and JV partner TE2 Development entered into a conditional agreement to acquire The Wilshire for a consideration of S$98.8 million.

TE2 Development is a private family office of Tong Eng Group’s Managing Director, Teo Tong Lim. RP Ventures, TE2 Development and Kim Seng Holdings are taking stakes of 40 per cent, 45 per cent and 15 per cent respectively in the development.

Roxy-Pacific will finance the acquisition through internal funds and bank borrowings.

Also Read:

SG Realty: Far East Hospitality REIT & SingHaiyi Group acquisitions

SG Realty Digest: DBS Trustee, Oxley, Frasers Hospitality strike M&A deals

Singapore: Mapletree Logistics Trust takes over HK realty asset in $78m deal

Singapore realty investor CapitaLand buys first office asset in Germany for $294m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.