Bond Capital Partners increases IREIT Global stake

Singapore 50 dollar bill

IREIT Global’s manager IREIT Global Group has disposed of 2.19 million units of the REIT to Bond Capital Partners for S$0.6155 each, the manager said in a filing to SGX Friday.

The deal cut the manager’s holding in the REIT to 0.21 percent from 0.4 percent previously, the filing said.

In July, Bond Capital Partners became a new investor in IREIT, acquiring 11.37 million new units in the REIT’s preferential offering. Those units were issued to Bond Capital Partners at S$0.6155 each, for a total of around S$7 million in gross proceeds, the REIT said in July.

According to the LinkedIn profile of Bond Capital Partners’ Chairman Michael Lim, the company manages a portfolio of properties, exotic and vintage cars, wine and international funds. The portfolio value is around US$30 million in investments, particularly in Singapore, the Philippines, Myanmar and Europe, the profile said.

The website of Singapore-based investment office Bond Capital Partners said it uses long-term strategies to make investments, including in real estate, and to serve as a parent company for subsidiary businesses. Its geographical focus in mainly Singapore, Hong Kong, the Philippines and London.

In September, IREIT Global entered a deal to acquire the Parc Cugat office building in Barcelona, Spain, from Madrid-listed Inmobiliaria Colonial, SOCIMI, S.A. for 27.2 million euro, or around S$43.1 million.

In addition, the REIT also owns four freehold office properties in Spain, with two in Barcelona and two in Madrid, as well as five office properties in Germany and 27 retail properties in France, with a portfolio valuation of 889.7 million euros, or around S$1.41 billion.