Tuesday, November 24, 2009

CNA: Starhill Global REIT to buy Perth retail property for some S$148m

Starhill Global REIT to buy Perth retail property for some S$148m
By Irene Chan, Channel NewsAsia 18 November 2009 

SINGAPORE: Mainboard-listed Starhill Global REIT, which owns shopping malls on Orchard Road, plans to buy a retail property in Perth called "David Jones Building," for around S$148 million. 

It will buy the property from Australian real estate firm, Centro, via a special purpose unit trust structure established in Australia. This would be Starhill Global's first investment in Australia. 

Meanwhile, the property trust also entered into an agreement with Starhill REIT of Malaysia to indirectly buy interests in Starhill Gallery and Lot 10 Shopping Centre on Kuala Lumpur's main shopping street, Bukit Bintang, for about S$423 million. This would be through an asset backed securitisation structure. 

The two properties in Kuala Lumpur comprise total net lettable area of some 554,000 square feet. 

With these proposed acquisitions, Starhill Global's portfolio size is expected to grow to S$2.5 billion. 

Starhill Global said the deals are expected to be completed in January, and will be funded by a combination of debt and proceeds raised from its recent rights issue. 

The acquisitions are expected to be accretive to the property trust's distribution per unit.


Team Marshe
Martin Koh/ Sherry Tang
93833992/ 98444400
www.marshe.net
www.smart-home.webs.com

1 comment:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
    11.Monthly Income…………..
    12.Email……………..

    Regards.
    Managements
    Email Kindly Contact: urgentloan22@gmail.com

    ReplyDelete