The company’s biggest investment was in Japan Hotel REIT Investment Corp., which owns 41 hotels in the country. SC Capital’s funds last year sold its investments in the fund, which has a market value of about $3.1 billion and is listed on the Tokyo Stock Exchange.
In Thailand, SC Capital plans to sell the leasing right to Mercury Tower, an office building in Bangkok, through a real estate investment trust, said Suchad. Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust will raise about 5.5 billion baht from local institutional investors in the fourth quarter, he said. The new REIT will buy the leasing right to Mercury Tower and the ownership of Exchange Tower, another Bangkok office building, from different owner, Suchad said.
This article was provided by Bloomberg News.