Despite the tough market environment for yield-focused property plays lately, bankers started investor education for two more potential listings yesterday. Both are being spun off from well-established brands and bankers involved in the two deals are hoping that the quality of their assets in combination with a reasonable valuation will be sufficient to attract investors.
In Singapore, property developer Overseas United Enterprise OUE is spinning off a hotel and an immediately adjacent shopping mall along Orchard Road through a real estate investment trust. The vehicle, which will be named OUE Hospitality Reit, is aiming to raise about S$900 million $720 million, according to sources.
Meanwhile, in...
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