ACQUISITION AND LEASEBACK OF 21B SENOKO LOOP SINGAPORE 758171
- Drew & Napier LLC acted as counsel to Cambridge Industrial Trust (“CIT”) -
13 February 2008 – Drew & Napier LLC (“Drew & Napier”) acted as counsel to Cambridge Industrial Trust (“CIT”) in the acquisition and leaseback of 21B Senoko Loop Singapore 758171 (“Property”).
RBC Dexia Trust Services Singapore Limited, in its capacity as trustee of CIT, exercised the call option to acquire the Property on 28 January 2008. The acquisition and leaseback of the Property to Tellus Marine Engineering Pte Ltd (“Tellus”) was completed on the same day for a purchase price of S$14,600,000.
CIT is Singapore’s first independent industrial real estate investment trust listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Since listing on 25 July 2006, CIT has grown from the initial asset portfolio of 27 to the current asset portfolio of 42 properties valued at S$949.8 million, all of which are located in Singapore.
The Drew team was led by Mr Petrus Huang, Director of the Banking & Corporate Department, and was assisted by Ms Chen Chen Lim and Mr Dax Lim.
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Established in 1889, Drew & Napier LLC is one of Singapore's leading and largest law firms, with over 220 lawyers and fee-earners. Consistently rated top tier in dispute resolution over the years by international ranking organisations such as Asia Pacific Legal 500, Chambers Global, Practical Law Company and Asia Law Profiles, to name but a few, the firm has seven senior counsel, the largest number of any law firm in Singapore. The firm is headed by chief executive officer, Davinder Singh, Senior Counsel. Drew & Napier LLC is also highly rated in Corporate Insolvency & Restructuring, Intellectual Property and Tax, with market leading practices in Banking & Corporate, Competition & Antitrust, Telecommunications, Media & Technology, and Admiralty & Shipping.
For more information please contact:
Verona Huang
Corporate Affairs Manager
Drew & Napier LLC
Tel: +65 6531 2482
Email: verona.huang@drewnapier.com
Lisa Lim
Corporate Affairs Executive
Drew & Napier LLC
Tel: +65 6531 2218
Email: lisa.lim@drewnapier.com