News about OUE REIT —
OUE Reit to sell Crowne Plaza Changi Airport for S$500 million to sponsor-led JV
OUE Hospitality Sub-Trust, a wholly owned subsidiary of OUE Reit, is set to sell the Crowne Plaza Changi Airport hotel for S$500 million to a Tokyo Century-OUE Limited joint venture....read more on The Business Times
The distribution-accretive sale represents about a 1.3 per cent premium to the average of two independent valuations, said the real estate investment trust’s (Reit) manager on Thursday (Jun 25). Net cash proceeds are expected to be about S$498.5 million.