Thailand: Strategic Property Investors to raise up to $115m via REIT

Ibis Saigon South

Strategic Property Investors Co Ltd (SPI), an independent REIT manager, has formed the Strategic Hospitality Extendable Freehold and Leasehold REIT (SHREIT) to raise up to 3.74 billion baht ($115 million) for operating three hotels in Indonesia and Vietnam.

The three hotels are Pullman Jakarta Central Park, Capri by Fraser in Indonesia and IBIS Saigon South in Vietnam, executive director James Lim told local media.

The total outlay of SHREIT will not exceed 5.42 billion baht ($166.2 million), raising from the subscription of trust units of a combined value of no more than 3.74 billion baht and the remaining 1.68 billion baht in loans from financial institutions.

Veena Lertnimitr, executive vice president, primary distribution, Siam Commercial Bank, said the estimated returns are in the range of 7.67 to 7.72 per cent annually as disclosed in the prospectus.

The subscription will be held in the middle of December and offered to business partners, parties related to the REIT manager, institutional investors, foreign initial purchasers, patrons of the underwriters as well as general investors.

The trust will be listed on the Stock Exchange of Thailand as a secondary market this year.

According to local media reports, SPI plans to raise an additional 5 billion baht ($153 million) via new REITs and loans in 2018 to continue investing in hotels in Vietnam, Indonesia and Cambodia.

Also read:

Thai developer Bhiraj Buri to raise $183.8m via its first REIT

Thailand: Grand Uniland to sell Samyan project into new REIT

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.