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btw seems like the comment function no body use, ppl shy is it? prefer to talk on forum instead lol
 
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Average said:
Ur link never mention ARA leh
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BLACKROCK'S exclusive negotiation period on the sale of Asia Square Tower 1 to a consortium led by ARA Asset Management has ended without a deal being concluded, BT understands.

The asset management giant, however, is said to be still in discussions with ARA but may also reach out to other parties, including CapitaLand, which was the original preferred bidder when an expression of interest exercise for the 43-storey office tower closed in August last year.

In early November, however, CapitaLand confirmed that negotiations had ceased "for now". When contacted on Thursday, a spokesman said: "CapitaLand currently has no plans to bid for Asia Square."

Market watchers suspect that posturing may be at play.

ARA had initially expressed interest for 100 per cent of the central business district property but is later said to have reduced this to 66 per cent; even then, BlackRock was willing to consider a sale.

Nevertheless, a deal with ARA has proved to be elusive and some observers suggest that this could have something to do with its proposed consortium partner, Korea Investment Corporation (KIC). In January, the sovereign wealth fund of South Korea announced that it had appointed a new chief executive officer.

When contacted on Thursday, BlackRock's spokesman reiterated that "negotiations with potential buyers of this asset continue" .

"While we are not in a position to comment on the details, we are pleased to have received significant global interest in this high-quality asset and are currently working to achieve the best outcome for our investors."

The initial price tag for Asia Square Tower 1 last year was touted at S$4 billion or about S$3,200 per square foot on net lettable area of 1.2 million sq ft of offices and 40,000 sq ft of retail space.

Market talk is that the discussions with both CapitaLand and later ARA were based on a lower price range of S$2,700-2,800 psf. At this pricing band, the net yield based on current occupancy works out to slightly above 3 per cent.

However, Google is due to move out of the building later this year to Mapletree Business City 2 in the Pasir Panjang area. Google's lease for 130,000 sq ft at Asia Square Tower 1 expires late this year.

Asia Square is owned by BlackRock Asia Property Fund III, formerly known as MGPA Asia Fund III. The fund is said to expire in mid-2017, although in a typical fund structure, there would be options for further extensions.

MGPA, which was acquired by BlackRock in 2013, developed Asia Square on two 99-year leasehold sites that it clinched at separate Urban Redevelopment Authority tenders in 2007.
 
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Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA), has agreed to purchase the Asia Square Tower 1 office building from global investment management firm BlackRock for a sum of $3.4 billion.


I think those middle east ppl still rich, now oil $50 they got cash... like that 3.4 bil hoot one commercial property... machiam we hoot a condo LOL
 
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Wow ara so zai. Ty
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this deal was freaking big, painful for ARA which lost it

if win, up 3 bil+ in AUM.. that's a 10% increase of AUM from 30bil to 33 bil... which can say is an 10% increase of earnings/recurring income from management fees

that's why ARA got sold off hard today, might drop further towards 1.30

if ARA falls back to 1.30 maybe some SSI warriors will reboard lol
 
JuzMobile

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StockBot said:
this deal was freaking big, painful for ARA which lost it

if win, up 3 bil+ in AUM.. that's a 10% increase of AUM from 30bil to 33 bil... which can say is an 10% increase of earnings/recurring income from management fees

that's why ARA got sold off hard today, might drop further towards 1.30

if ARA falls back to 1.30 maybe some SSI warriors will reboard lol
Click to expand...

Yeah, me me! :s12:
 
Genosis

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Can't wait to make the adjustments for Scrips from DBS, OCBC & RMG....:s12:
 
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https://www.sgxcafe.com/user/profile?username=limster

b7nvxw.png


100% fake portfolio

that's why cannot rank by P&L %

ppl might do all sorts of funny things

good that now is default sort by day change %, more healthy
 
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