Singapore’s Far East Organisation is seeking to list some of its hotel and serviced residence assets in a real estate investment trust in 2012, Reuters reports. The property developer intends to raise a minimum of $410 million through the listing.
DBS, Goldman Sachs and HSBC will act as the lead bankers on the transaction. Far East’s Orchard Parade Hotel in Singapore may be among the assets spun off into the REIT. The developer has seven hotels and 10 serviced residences in Singapore and one in Malaysia.
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