* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, August 2, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Sens. Blackburn, Warnock introduce CREATE Act to provide tax relief to music creators – Yahoo Home

    Sens. Blackburn and Warnock Launch CREATE Act to Deliver Tax Relief for Music Creators

    That’s (Political) Entertainment: When Theatre Meets Politics

    Future Script: How Generative AI Is Changing Collective Bargaining in the Entertainment Industry – Jackson Lewis

    Future Script: How Generative AI Is Transforming Collective Bargaining in Entertainment

    The SBA’s live-entertainment bailout was supposed to end two years ago. We still don’t know how $1.5 billion was spent. – Yahoo Home

    $1.5 Billion Live-Entertainment Bailout: Two Years Later, Where Did the Money Go?

    Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, Boyd – CDC Gaming

    Top Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, and Boyd Take Center Stage

    Micro wrestling coming to NE Ohio – Cleveland.com

    Get Ready, NE Ohio: Micro Wrestling Is Making Its Exciting Debut!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Emory orthopaedic surgeons use robotic technology to transform knee replacement surgery – Emory News Center

    How Robotic Technology is Revolutionizing Knee Replacement Surgery

    Cognizant Technology Solutions Corp (CTSH) Q2 2025 Earnings Call Highlights: Strong Revenue … – Yahoo.co

    Cognizant Q2 2025 Earnings: Impressive Revenue Growth and Key Takeaways

    Revving Up The U.S. Technology Engine – Forbes

    Revving Up The U.S. Technology Engine – Forbes

    More than just a hockey player – Rochester Institute of Technology Athletics

    Beyond the Ice: The Inspiring Journey of a Remarkable Athlete from Rochester Institute of Technology

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    AI’s race in the dark with China – Axios

    The High-Stakes AI Race: Innovation and Competition in the Shadows

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Sens. Blackburn, Warnock introduce CREATE Act to provide tax relief to music creators – Yahoo Home

    Sens. Blackburn and Warnock Launch CREATE Act to Deliver Tax Relief for Music Creators

    That’s (Political) Entertainment: When Theatre Meets Politics

    Future Script: How Generative AI Is Changing Collective Bargaining in the Entertainment Industry – Jackson Lewis

    Future Script: How Generative AI Is Transforming Collective Bargaining in Entertainment

    The SBA’s live-entertainment bailout was supposed to end two years ago. We still don’t know how $1.5 billion was spent. – Yahoo Home

    $1.5 Billion Live-Entertainment Bailout: Two Years Later, Where Did the Money Go?

    Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, Boyd – CDC Gaming

    Top Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, and Boyd Take Center Stage

    Micro wrestling coming to NE Ohio – Cleveland.com

    Get Ready, NE Ohio: Micro Wrestling Is Making Its Exciting Debut!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Emory orthopaedic surgeons use robotic technology to transform knee replacement surgery – Emory News Center

    How Robotic Technology is Revolutionizing Knee Replacement Surgery

    Cognizant Technology Solutions Corp (CTSH) Q2 2025 Earnings Call Highlights: Strong Revenue … – Yahoo.co

    Cognizant Q2 2025 Earnings: Impressive Revenue Growth and Key Takeaways

    Revving Up The U.S. Technology Engine – Forbes

    Revving Up The U.S. Technology Engine – Forbes

    More than just a hockey player – Rochester Institute of Technology Athletics

    Beyond the Ice: The Inspiring Journey of a Remarkable Athlete from Rochester Institute of Technology

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    AI’s race in the dark with China – Axios

    The High-Stakes AI Race: Innovation and Competition in the Shadows

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Cuscaden Peak-Managed Paragon REIT Sells Singapore Strip Mall for $58M

June 23, 2024
in Technology
Cuscaden Peak-Managed Paragon REIT Sells Singapore Strip Mall for $58M
Share on FacebookShare on Twitter

The Rail Mall

The Rail Mall fronts Upper Bukit Timah Road near Singapore’s Rail Corridor (Image: Rail Mall Facebook)

Paragon REIT has agreed to sell a strip mall in the Upper Bukit Timah area for S$78.5 million ($58 million), reducing the Singapore-listed trust to just two properties in its home market, with another two in Australia.

“The divestment is part of the Manager’s proactive portfolio management strategy and is in line with its objective to unlock value in Paragon REIT’s portfolio,” the trust’s manager said in announcing the agreement to sell the Rail Mall, with the identity of the buyer left undisclosed.

Sources familiar with the transaction have identified the buyer to Mingtiandi as the Yong family which controls privately held construction firm Woh Hup Holdings, with the deal for the property near Singapore’s Rail Corridor park taking place at a nearly 27 percent premium to the asset’s valuation of S$62 million as of 31 December.

The deal represents the latest disposal of a property formerly linked to Singapore Press Holdings since the company’s real estate holdings and the manager of SPH REIT (later rebranded as Paragon REIT) were acquired by Cuscaden Peak, a joint venture between controversial businessman Ong Beng Seng, Mapletree Investments and CapitaLand Ltd in 2022.

Leasehold Expiry Approaching

With the Rail Mall measuring 49,886 square feet (4,635 square metres) of net lettable area, the deal is taking place at the equivalent of S$1,574 per square foot. With the property having generated net property income of S$5.2 million in 2023, the transaction represents a yield of 6.6 percent.

ONg Beng Seng

Ong Beng Seng’s Cuscaden Peak has been selling off assets

The high yield on the deal can be linked in part, according to property analysts, to the Rail Mall having less than 22 years remaining on its 99-year leasehold. The 43-unit mall has 360 metres of frontage on Upper Bukit Timah Road and is less than half of a kilometre from the Hillview MRT station.

Anchored by a Cold Storage grocery store, the Rail Mall was 95.5 percent occupied as of 31 December, according to Paragon REIT’s annual report, with other tenants including fast-food chain Popeye’s and a Fish & Co restaurant. Tenant sales at the mall rose 10.8 percent in 2023 from a year earlier.

The Rail Mall accounted for 1.5 percent of the total valuation of Paragon REIT’s portfolio as of 31 December and 1.82 percent of its Singapore property holdings, with the manager indicating that it doesn’t expect the divestment to have a material impact on net asset value or distributions for this year.

The deal is expected to close in the second half of this year with Paragon REIT’s manager saying it could use the net proceeds, “to pare down outstanding debt obligations, finance potential acquisitions and asset enhancement initiatives, and/or make distributions to unitholders.”

Woh Hup, the construction company controlled by the reported buyer, in March this year teamed up with SGX-listed Far East Orchard to acquire a student housing asset in Glasgow, Scotland for £38.9 million (then $50 million). Those same partners had established a £26.6 million joint venture in 2022 to develop a student housing project in Bristol, England.

Also in 2022, Woh Hup joined with SGX-listed Metro Holdings and Lee Kim Tah Holdings to acquire a set of four UK student housing properties in Exeter, Durham, Glasgow and Kingston.

SPH Real Estate Liquidation Continues

“Paragon REIT remains well positioned to seek yield-accretive opportunities for future growth,” the trust’s manager said in announcing the divestment, which marks the third disposal by a Cuscaden Peak entity this year.

In April Cuscaden agreed to sell a portfolio of 31 European student housing properties to Mapletree Investments, with those assets having previously been part of the Singapore Press Holdings real estate portfolio.

That deal came just one month after a joint venture between Cuscaden Peak and developer Yanlord Land’s United Engineers Ltd unit completed its S$550 million ($410 million) sale of the Seletar Mall in northeastern Singapore to Robert Kuok’s Allgreen Properties.

In 2023 Cuscaden Peak sold three mansions on Singapore’s Nassim Road for S$206.7 million ($155 million), with the firm’s stake in the recently completed Woodleigh Residences condo project in the Bidadari area, along with its associated mall, now its last directly owned assets.

Following the disposal of the Rail Mall, Cuscaden-managed Paragon REIT will continue to hold the Paragon and Clementi Malls in Singapore, along with the Westfield Marion mall in Adelaide, Australia and the Figtree Mall in Wollongong, New South Wales.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/retail/singapores-paragon-reit-sells-rail-mall-to-woh-hup-family/

Tags: CuscadenPeak-Managedtechnology
Previous Post

Gaw Capital Launches $533M Aussie Land Lease JV With GreenFort 

Next Post

OpenEMR: Open-source medical record software

It’s time to retire the word ‘technology’ – Financial Times

Why It’s Time to Retire the Word ‘Technology’ for Good

August 2, 2025

Wrigley Field to host 2027 MLB All-Star Game – Yahoo Sports

August 2, 2025
Women’s Voices Are the Only Way Forward for Climate Change Solutions: ‘As Women, We Have to Stand Up and Back Up Women’ – Ms. Magazine

Women’s Voices Are the Only Way Forward for Climate Change Solutions: ‘As Women, We Have to Stand Up and Back Up Women’ – Ms. Magazine

August 1, 2025
“A Danger to the Entire Planet”: Amid Deadly Extreme Weather, Trump’s EPA Rejects Climate Science – Democracy Now!

“A Danger to the Entire Planet”: Amid Deadly Extreme Weather, Trump’s EPA Rejects Climate Science – Democracy Now!

August 1, 2025
Ten Lifestyle Group Announces Total Voting Rights and Share Capital Update – TipRanks

Ten Lifestyle Group Announces Total Voting Rights and Share Capital Update – TipRanks

August 1, 2025
Five different countries take gold medals on a wide-open day at the swim world championships – AP News

Five Countries Triumph in a Thrilling, Unpredictable Day at the Swim World Championships

August 1, 2025
US employers slash hiring as Trump advances a punishing trade agenda – AP News

US Employers Slash Hiring as Trump’s Aggressive Trade Policies Shake the Market

August 1, 2025
Duffer Brothers and Jerry Bruckheimer Join Program for Entertainment and Technology Summit – Variety

Duffer Brothers and Jerry Bruckheimer Join Forces for an Exciting Entertainment and Technology Summit

August 1, 2025
Alabama schools enhance mental health support as students return to the classroom – WBMA

Alabama Schools Ramp Up Mental Health Support as Students Return to Classrooms

August 1, 2025
Platts­burgh town su­per­visor eyed for Dem ticket in N.Y. Assembly special election – Spectrum News

Platts­burgh town su­per­visor eyed for Dem ticket in N.Y. Assembly special election – Spectrum News

August 1, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (749)
  • Economy (774)
  • Entertainment (21,652)
  • General (16,232)
  • Health (9,811)
  • Lifestyle (782)
  • News (22,149)
  • People (775)
  • Politics (783)
  • Science (15,987)
  • Sports (21,270)
  • Technology (15,752)
  • World (757)

Recent News

It’s time to retire the word ‘technology’ – Financial Times

Why It’s Time to Retire the Word ‘Technology’ for Good

August 2, 2025

Wrigley Field to host 2027 MLB All-Star Game – Yahoo Sports

August 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version