Singapore Developer Grabs Thai Malls, Resort For $157M

By Samuel Howard

Law360, New York (January 13, 2012, 2:10 PM ET) -- Singapore real estate developer City Developments Ltd. is enhancing its presence in Thailand with the $157 million acquisition of two malls and a resort from Real Estate Capital Asia Partners LP, the buyer announced late Thursday.

City Development’s subsidiary Vinemont Investments Pte Ltd. purchased the Jungceylon shopping mall, the largest retail complex on the island of Phuket; the Millennium Resort Patong Phuket, a 418 room hotel; and a mall in Bangkok for $147 million and assumed a $10.5 million loan in connection with the properties, City...
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