26 Jun '14, 4am

GSH Corporation-led group buys Equity Plaza for $550m - STProperty

Equity Plaza: This prime office building in Raffles Place is sold at $2,181 per square foot of net lettable area. It is on a site with a balance lease term of about 74 years KEPPEL Land and its fund management arm Alpha Investment Partners have entered into an agreement to sell Equity Plaza in Raffles Place for $550 million, or $2,181 per square foot of net lettable area, to a consortium company 51 per cent owned by Sam Goi-controlled GSH Corporation. Other members of the consortium company, Plaza Ventures, are Vibrant DB2, owning a 35 per cent stake, and Mr Goi's private investment vehicle TYJ Group, with a 14 per cent stake. Vibrant DB2 is a 51:49 joint venture between listed Vibrant Group, formerly known as Freight Links Express, and niche property developer DB2 Properties. Equity Plaza - formerly known as The Exchange and The Quadrant - is on a site with a balance leas...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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