OUE REIT is selling its Crowne Plaza Changi Airport hotel for SGD500.0 million, a price that falls short of the property's book value.
The transaction, signed on 24 June 2026, involves a put and call option agreement between DBS Trustee Limited, acting as trustee of OUE Hospitality Sub-Trust, and OUE TC TM Pte. Ltd., the trustee-manager of OUE TC Airport Hotel Trust.
The purchaser is a wholly-owned trust of a joint venture between OUE Limited, the REIT's sponsor, and TC Realty SG Pte. Ltd., in which OUE will hold a 51.0% stake upon completion.
The transaction consideration effectively paves the way for the purchaser to acquire the hotel at approximately SGD15.0 million below its book value.
Dear members, please login to continue reading this article.
Login or sign-up for a free 25-day trial here. Why subscribe?