Schroders seeks to sell Wisteria Mall in Yishun in bid to offload Singapore properties
Detailed summary
Schroders seeks to sell Wisteria Mall in Singapore as it looks to offload real estate assets and raise about $220 million. Read more at straitstimes.com.
Wisteria Mall in Yishun was bought in 2022 for $208 million by Schroders’ Pamfleet Real Estate Fund III. It has an occupancy level of 93%.
Schroders is planning to sell off some of its real estate assets in Singapore, having appointed a pair of brokers to raise around $220 million from the sale of a mall, according to people familiar with the matter.
The London-based asset manager, which was acquired by Nuveen in October, wants to sell Wisteria Mall, a suburban two-storey retail asset in northern Singapore.
Brokers Knight Frank and Savills are running an expression of interest exercise that is due to close in late November, the people said, asking for anonymity to speak about a private process.
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