Pacific Star increases stake in Prime REIT to 50%

Pacific Star increases stake in Prime REIT to 50%

 

SINGAPORE : Singapore-based real estate investment house Pacific Star Group has agreed to buy the 25 percent stake held by MEAG Munich Ergo Asset Management in Prime REIT Management Holdings.

 

Prime REIT owns 100 percent of listed Macquarie Pacific Star Prime REIT Management. It is also the sole owner of Macquarie Pacific Star Property Management, which is the property manager of MMP REIT.

 

The purchase will increase Pacific Star’s interest in Prime REIT to 50 percent. Pacific Star’s existing stake in Prime REIT is held through its associated company Investmore Enterprises.

 

Pacific Star said the purchase reaffirms its commitment to the growth of the REIT industry in Singapore. – CNA /ls

 

Source: Channel NewAsia

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s