OUE sells US bank tower for $597.7m

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No It will streamline its asset ownership when the US property market may not be favourable. Beringia Central, an indirect wholly-owned subsidiary of OUE Limited, has entered into a sale and purchase agreement (SPA) to sell its US bank tower to USBT Property Owner LP for $597.7m (US$430m), an SGX filing revealed. The purchase consideration had been negotiated on a willing-buyer and willing-seller basis, after taking into account the market value of the property and the current US property market conditions in the relevant sectors amidst the COVID-19 pandemic. read more