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GIC Real Estate Pte Ltd, (GIC RE) through its affiliate, GIC Real Estate, Inc., has made a US$230M mezzanine loan investment secured by the equity interests in a 15-hotel portfolio owned by Strategic Hotel Capital.
The mezzanine loan has a term of two years with 3 one-year extension options.
Dr Seek Ngee Huat, President of GIC RE said, “This transaction allows us to capitalize on our existing good relationship with Strategic Hotel Capital by providing financing on a high-quality portfolio of full-service hotel assets that we are familiar with while receiving good cash-on-cash returns.”
Headquartered in Singapore, GIC Real Estate Pte Ltd (GIC RE) is a pre-eminent global real estate investment manager. The company manages a multi-billion dollar portfolio of direct and indirect property investments worldwide. GIC RE is the real estate investment arm of Government of Singapore Investment Corporation (GIC) which manages the foreign reserves of Singapore.
For further information, please contact:
Mr Tan Kay Hui
Executive Vice President
Head, Administration and Corporate Affairs
GIC Real Estate Pte Ltd
168 Robinson Road
#37-01 Capital Tower
Singapore 068912
Tel: 65 6889 8888 (Main)
Fax: (65) 6889 6812
Website: www.gicre.com
Mr. Christopher Morrish
Senior Vice President
Government of Singapore Investment Corporation
(London Office) Pte Ltd
8th Floor, 33 Old Broad Street
London EC2N 1HZ
United Kingdom
Tel: (44) 20 7496 88003
Fax: (44) 20 7496 8920
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