Far East Hospitality REIT acquiring Oasia Hotel Downtown from sponsor for $210 mil

SINGAPORE (Jan 12): Far East Hospitality REIT is proposing the acquisition of Oasia Hotel Downtown from its sponsor for $210 million.

Sponsor Far East SOHO a member of the Far East Organization group of companies, is selling the 65-year leasehold estate in  Oasia Hotel Downtown, a 314-room upscale hotel in Tanjong Pagar, under its right of first refusal agreement with Far East H-REIT.

The proposed acquisition will be funded by debt facilities and proceeds from Far East H-REIT's distribution reinvestment plan.

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