Finance / Bahrain
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Arcapita Buys Into Singapore Property Market
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Bahrain-based Arcapita Bank has agreed to become joint partners with Singapore's Mapletree Investments in a private real estate fund, Mapletree Industrial Trust (MIT). Arcapita has agreed to buy SGD1.71bn (US$1.3bn) of industrial properties in Singapore, which will be held by the MIT fund. Arcapita and Mapletree will hold 56.5% and 25.1% stakes in the fund respectively. Mapletree Industrial Fund (MIF), of which Arcapita also holds a 40% stake, will hold the remaining stake in MIT.