Holiday Inn Resort Orlando Suites - Waterpark, a property of Eagle Hospitality Trust. (Photo via IHG.com)

A group of Eagle Hospitality Trust (EHT) unitholders has submitted an appeal to the Monetary Authority of Singapore (MAS), urging the regulator to delay or terminate the imminent disposal of 15 EHT hotel assets.

The disposal, which is being carried out as part US Chapter 11 proceedings related to the EHT entities, appears to be a hurried ‘fire-sale’ during distressed circumstances caused by the COVID-19 pandemic, said the investors.

As REITsWeek reported in March 2021, EHT unitholders look poised to see a significant write down in the value of their investments with the imminent sale, which is being carried out via a ‘stalking horse’ agreement.

Related: Eagle Hospitality Trust investors stare down USD615 million loss with stalking horse agreement


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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.