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Accordia Golf Trust's sponsor offers to buy golf courses for S$804.1m

A golf course in Tokyo. "Given the dearth of buyers of Japanese golf courses out there, and the general weakness of Reits and trust assets in Japan, I don't expect others to show up, so I expect no bump and no competitive bid," says Travis Lundy, an analyst who publishes on Smartkarma.


THE sponsor of Accordia Golf Trust (AGT) has proposed to acquire the trust's 88 golf courses in Japan for 61.8 billion Japanese yen (S$804.1 million), or an implied purchase consideration of S$0.732 per unit, AGT said on Monday.

The price represents a premium of 5.1 per...

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