The boards of directors of SB REIT Management, as manager of Soilbuild Business Space REIT, and Clay Holdings III, have announced the proposed privatization and delisting of SB REIT. The deal is estimated to be worth S$700.3 million ($524.49 million).
Clay Holdings III, a newly incorporated entity formed for the purpose of the trust scheme, is owned by Clay Holdings II, which is in turn owned by Lim Chap Huat, executive chairman and co-founder of Soilbuild Group Holdings, and Clay Holdings I, an entity established by funds managed by affiliates of Blackstone Real Estate.
Lim, executive chairman and co-founder of Soilbuild Group Holdings Ltd., said, “Given the various challenges and constraints faced by SB REIT, we have considered many optio
