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Morgan Stanley fund mulls bulk sale of luxe units

It appoints two agents to explore demand for a bulk transaction for its 23 units in Draycott Eight; Blackstone has inked deal for 21 Anderson Royal Oak Residence
Thursday, January 8, 2015 - 05:50
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The asking price for the 23 units at Draycott Eight is S$2,300 psf. The Morgan Stanley-managed fund paid S$2,600 psf for the stack of units in 2007.
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Blackstone is paying about S$164m for the en bloc purchase of 21 Anderson Royal Oak Residence - higher than the S$159m original price at which it entered into an exclusive due diligence on the deal last year.

THE momentum for bulk transactions of high-end residential units looks set to continue this year.

A German core fund managed by Morgan Stanley is said to be exploring a bulk sale for its 23 units in the Draycott Eight condo. It has appointed two agents to help it find a buyer in a