First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)

Should its properties be injected into first REIT, it will be done on a “willing-buyer, willing-seller’ basis, said a statement from OUE Lippo Healthcare Limited (OUELH).

The company was responding to questions from REITsWeek on properties that may be channelled into First REIT, now that it is a significant stakeholder in both the REIT and its manager.

In October 2018, the Catalist Board-listed subsidiary of OUE Limited received approval from its unitholders to acquire 400,000 ordinary shares of First REIT’s manager, representing a stake of 40%.

OUELH also received the nod to indirectly acquire 83,593,683 units in First REIT itself, representing a stake of approximately 10.6%.

Read: First REIT addresses concerns over possible injection of OUELH assets

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.