>

>

Far East Hospitality Trust secures first sustainability-linked loan worth $125 mil from OCBC

By Valerie Kor

/ EdgeProp Singapore |

March 31, 2021 10:26 AM SGT

SINGAPORE (EDGEPROP) - Singapore-focused hotel and serviced residences hospitality trust, Far East Hospitality Trust, has secured its first sustainability-linked loan facility worth $125 million for a term of five years from OCBC Bank, the sole lender for this transaction.

The trust has a portfolio of 13 properties in Singapore, including nine hotels and four serviced residences such as Oasia Hotel Downtown and Village Hotel Albert Court. Village Hotel Albert Court was awarded the BCA Green Mark Platinum certification by BCA.

Read more: Far East Hospitality to launch The Clan Hotel Singapore

The loan will be used to refinance Far East H-Trust’s existing bank borrowings, with the loan’s interest margin tied to sustainability targets such as reducing energy consumption of its portfolio. The interest margin will be subsequently reduced on a tiered basis.

Gerald Lee, CEO of the REIT’s managers, says that the trust recognises its responsibility in conserving the natural environment and have incorporated sustainability and enhancing operational efficiency. “This maiden green loan strengthens our approach and commitment in managing our properties,” says Lee.

Tags:

sustainability Far East Hospitality Trust OCBC loan BCA Gerald Lee Village Hotel Albert Court REIT

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00