News
National Commercial Real Estate

Blackstone, Gaw Eye Takeover Of $580M REIT

Photo credit: Bisnow/GAW Capital

Sources tell Bloomberg that Blackstone (CEO Steve Schwarzman, left) and Gaw Capital (chair Kenneth Gaw, right) are pondering offers for the $584M Singapore-based Ascendas Hospitality Trust.

Ascendas is weighing its options after the unsolicited offers from the two private equity giants. The REIT owns 11 hotels with 4,100 rooms in four countries. Its parent company, Ascendas PTE, has a business park and Indian property REITs as well.

The Chinese market fell so hard it was suspended Thursday, causing Ascendas shares to drop 2% in trading.

Bloomberg data shows a deal would top off $9.2B in buys of Singapore commercial real estate firms over the past year. [Bloomberg]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy