The consideration was based on an agreed property price of $520 million, which translates to $2,450 psf on total net lettable area (NLA) of Chinatown Point Mall.
SINGAPORE (Apr 22): Perennial Real Estate Holdings, together with its consortium of investors, is fully divesting its 100% stake in entities that own the retail mall and four strata office units in Chinatown Point, for a consideration of $225 million.
The buyer is PAR Chinatown Point, a wholly-owned vehicle of a fund which is managed by Pan Asia Realty Advisors (Singapore). a joint venture between Mitsubishi Estate Co, and CLS.
