Oxley-led JV acquires Serangoon Ville for $499m
The purchase was funded by internal resources and bank loans.
The consortium amongst Oxley Holdings, Unique Invesco Pte. Ltd., Lian Beng (Serangoon) Pte. Ltd., and Apricot Capital Pte. Ltd. has acquired the Serangoon Ville property for $499m.
The property is a former Housing and Urban Development Company (HUDC) estate which has been privatised. The site area is approximately 27,583.9 sqm.
Oxley owns 40% of the consortium. The remaining stakes are equally split amongst the three other companies.
To recall, the consortium also acquired Rio Casa, another former HUDC estate in Hougang, for $575m in May.