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Asia-pacific: Wheelock To Buy Singapore Developer Hotel Properties | Hotel Management

The Wall Street Journal reported that the bid was led byHotel Properties managing director Ong Beng Seng and Wheelock Properties (Singapore) asthe latest in a series of acquisitions this year by large shareholders seeking full control of Singapore-based property firms. 68 Holdings Pte., the consortium led by Ong and Wheelock Properties, controls 41.9 percentof Hotel Properties after agreeing to buy roughly 214 million shares at $2.80each.The consortium is looking to pay the same amount to scoop up the remaining shares in Hotel Properties bangunan that it doesn't already own or has agreed to buy. The offer price represented a premium of as much www.urbanindo.com as 12 percent to the stock's last traded price of $2.50 on Friday. The partnership between Ong Beng Seng and Wheelock will work out well, Terence Wong, head of research at DMG & Partners Securities in Singapore, told Businessweek . Hotel Properties has underperformed compared to their potential so this venture will help in co-development of properties. Ong is the majority owner of Cuscaden Partners, which in turn holds 60 percent of the venture making the bid, according to Businessweek.

Will A Bet on This Gambling Giant Pay Off? (GLPI, WPC)

These types of deals net Carey reliable tenants and, even better, customers willing to take care of virtually all of the expenses of owning a property. W.P. Carey essentially gets to sit back and collect rent. How good of a deal is this? W.P.

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