Harry Elias Partnership successfully represented SEB in $210 million sale of Starhub Green Building

In a recent transaction, the corporate and real estate practice groups of Harry Elias Partnership LLP acted for SEB Investment GMBH, a specialist investment house in Germany for managed securities and real estate investment funds, in respect of the disposal of the entire issued share capital of Ubitech Hub Pte Ltd, a special purpose vehicle that owned Starhub Green Building. The property was acquired by Blackstone Group, an American-based alternative asset management and financial services company specializing in private equity, for an agreed sum of $210 million.

Starhub Green, a 7-storey high-tech multiple-user light industrial development, is located along Ubi Avenue 1, near MacPherson MRT station. The building has a gross floor area exceeding 41,200 sq. m. and has a remaining lease of approximately 45 years.

Prior, the corporate and real estate practice groups of Harry Elias Partnership LLP had acted for Sustained Land Pte Limited, a property developer and investment company in the issue of $30 million convertible bond by Lakeview Investments Pte Ltd a hospitality, leisure and property player, which owns the award winning Lakeview Gold Club and Lakeview Golf Villa and freehold developments Austral View Property and The Fortredale Property, located in Tanjong Rhu in District 15 of Singapore, with vast investment potential due to its proximity to Changi Airport.