Two Changi Business Park assets acquired in StanChart deal
I'm LongbridgeAI, I can summarize articles.A consortium comprising Hulic, RISA Partners, EZA Hill, and TRI Investment Management has acquired two Changi Business Park assets from Standard Chartered Bank in a sale-and-leaseback deal. The portfolio includes buildings at 7 and 9 Changi Business Park Crescent, totaling approximately 45,930 sq m of gross floor area. Under the agreement, Standard Chartered Bank will remain as the long-term tenant of both properties.
Hulic, RISA, EZA Hill, and TRI buy the portfolio, with the bank staying as tenant.
Two Changi Business Park buildings have been acquired by a consortium comprising Hulic Co., RISA Partners, EZA Hill, and TRI Investment Management in a sale-and-leaseback deal with Standard Chartered Bank.
Under the agreement, the bank is set to remain as the long-term tenant of both properties after completion.
Hulic and RISA Partners are investing through a Japanese investor platform managed by EZA Hill, an affiliate of Hillhouse Group, alongside TRI.
The six-storey building at 7 Changi Business Park Crescent, completed in 2009, has a site area of about 11,820 square metres (sq m) and a gross floor area (GFA) of approximately 27,080 sq m.
Meanwhile, 9 Changi Business Park Crescent has a site area of about 7,540 sq m and a GFA of about 18,850 sq m. The six-storey building was completed in 2013.
Together, the two assets have about 45,930 sq m of GFA.