SG briefs: Far East Hospitality Trust, SPH REIT, Manulife US REIT China Kunda Tech

City Developments' Central Mall with conservation shophouses. Credit: City Developments City Developments' Central Mall with conservation shophouses. Credit: City Developments

Singapore company briefs: Far East Hospitality Trust, SPH REIT, China Kunda Technology Holdings and Manulife US REIT (MUST).

Manulife US REIT

Manulife US REIT (MUST) has signed a seven-year lease with Matthews Real Estate Investment Services for more than 11,000 square feet at the Michelson property, according to a LinkedIn post by the REIT Friday

“Demand for this type of high-quality asset in Orange County has been strong as occupiers look to create differentiated workplaces for their employees,” CBRE Group, which brokered the deal, said, according to the post. 

Far East Hospitality Trust

Far East Hospitality Trust said Friday it has completed the divestment of Central Square for S$313.2 million, for a gain of around 70.8 percent over the S$183.3 million consideration for the purchase in 2012. The proceeds will be used to pare debt, the trust said in a filing to SGX. 

After the divestment, the trust’s portfolio will hold nine hotels and three serviced residences in Singapore with a total portfolio value of S$2.3 billion as of end-December, Far East Hospitality Trust said. The trust also holds a 30 percent stake in Fontaine Investment — a joint venture with Far East Organization Centre, part of Far East Organization — which has developed three hotels on Sentosa, the filing said.

Far East Organization is Singapore’s largest private property developer, developing, owning and managing projects in the residential, hospitality, retail, commercial, medical and industrial sectors. The group also has projects in Australia, Japan and Malaysia.

Read more: City Developments to redevelop Central Mall area into large-scale mixed-use project

SPH REIT

SPH REIT said Friday that under an existing, amended facility agreement, it has established a five-year loan of S$50 million to be used to refinance existing loans. 

China Kunda Technology Holdings

China Kunda Technology Holdings said Friday it has completed the disposal of Shenzhen Shi Er Ju Quan Wu Ding Zhi Co., or SEJ, to independent third party Shenzhen City Tangjia Kitchen Appliances Co. for CNY2 million.

The deal was announced earlier this month

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