Stake Changes: KBS REIT Properties III sells part of Prime US REIT stake, IREIT, ARA US Hospitality Trust, Ntegrator

A video screen at Raffles Place in Singapore advertising the Prime US REIT IPOA video screen at Raffles Place in Singapore advertising the Prime US REIT IPO

Singapore substantial shareholder changes: Prime US REIT, IREIT Global, ARA US Hospitality Trust and Ntegrator.


KBS REIT Properties III sold 73.72 million Prime US REIT units in an off-market block trade at US$0.814 a unit, taking its stake to 18.5 percent from 24.8 percent previously, according to a filing to SGX Friday.

In a separate statement filed to SGX, Prime US REIT’s manager said the block trade wasn’t a corporate action and didn’t involve a new equity fundraising by the REIT, adding the deal was independent of the manager.

“The manager understands from the seller that the block trade was executed based on public information. The manager also confirms that it is not aware of any material non-public information which may have prompted this trade,” KBS US Prime Property Management, the REIT’s manager, said in the statement, adding the increased free float of Prime’s units could increase liquidity ahead.

The manager released a statement from KBS REIT Properties III:

“We are pleased with the performance of our investment in Prime US REIT to date and have no immediate plans to sell additional units. Our remaining investment in Prime US REIT is approximately 5% of the fair value of KBS REIT III’s assets and the ongoing dividends KBS REIT III receives are beneficial to the ultimate returns and distributions paid to the KBS REIT III shareholders. KBS REIT III is well capitalized with a significant amount of available liquidity to meet its shareholders’ needs.”

KBS REIT Properties III is a wholly owned subsidiary of KBS Limited Partnership III, which is deemed interested in the units, the filing said.

KBS REIT Holdings III, which is wholly owned by KBS Real Estate Investment Trust III, owns 99.9 percent of KBS Limited Partnership III and is its limited partner, the filing said. KBS Real Estate Investment Trust III is also the sole general partner of, and owns a 0.1 percent partnership interest in, KBS Limited Partnership III, the filing said. All of the entities are deemed interested in the units, the filing said.

The filing said Bank of America Singapore was the sole financial advisor to KBS REIT Properties III on the deal.

IREIT Global

Bruno de Pampelonne has acquired 150,000 units of IREIT Global at S$0.65 each in a market transaction, taking his stake to 0.06 percent from 0.05 percent previously, according to a filing to SGX Friday.

Bruno de Pampelonne is non-executive director of IREIT Global Group, which is IREIT Global’s manager, and chairman of Tikehau Investment Management, which jointly owns the REIT’s manager with City Developments.

ARA US Hospitality Trust

ARA Trust Management (USH), the manager of ARA US Hospitality Trust, has sold 185,900 units of ARA US Hospitality Trust for US$0.5191 each, leaving it holding 57 units, according to a filing to SGX.


Zheng Ze Li became a substantial shareholder of Ntegrator, acquiring 102.05 million new shares for S$836,810 in a share placement deal, giving her a 7.16 percent stake, according to a filing to SGX Friday.

In addition, Han Meng Siew, listed as executive chairman on the company website, saw his stake in Ntegrator fall to 1.96 percent from 2.23 percent previously due to dilution after two share placements, a separate filing said.

Mission Welland its sole shareholder CEO Christian Kwok-Leun Yau Heilesen saw their deemed interest diluted to 12.02 percent from 13.67 percent previously as well, a separate filing said.

Ntegrator’s core businesses include the design, installation and implementation of data, video, fiber optics, wireless and cellular network infrastructure and voice-communication systems.

Read more: Ntegrator enters placement deals to raise around S$1.4M