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Location (City) |
Asset Type |
Transaction Date |
Size (Sqm) |
Value (USD) |
Singapore |
Industrial | July 2021 | 37,361 |
approx. $220 million |
Buyer: Confidential
Seller: AEP
Services provided: Brokerage
The Challenge
As a result of the disruptions and uncertainty following COVID-19, the transaction met with several hurdles, which included a potential acquirer withdrawing from the deal.
The Strategy
Colliers leveraged on the growth potential of Starhub Green with its proximity to Paya Lebar central, which is a key growth district. The opportunity was marketed as an investment grade asset, with high occupancy across Starhub Green with tenants of good covenants.
Colliers focused on highlighting the positive rental reversions of renewals and new tenancies, and identified and targeted investors and fund managers that had suited the returns profile with Core and Core Plus mandates.
The Solution
The Colliers team worked tirelessly to overcome the inertia in the entire transaction process. The first Expression of Interest (EOI) launch offered the vendor a gauge on the pricing. Subsequently, Colliers ran an off-market process to find a buyer, while keeping in mind the price range from the first EOI.
The Result
Colliers' team of experts achieved a favourable and acceptable selling price that was favourable for the Vendor.
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