BlackRock said to be in exclusive due diligence for Capri by Fraser China Square
The price is expected to be about S$330 million; the hotel is on a long lease with a balance of about 69.5 years
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[SINGAPORE] BlackRock is said to be in exclusive due diligence for a potential purchase of the 304-room Capri by Fraser China Square hotel in the South Bridge Road/Cross Street area.
The pricing is about S$330 million, or about S$1.1 million per key, The Business Times understands.
The 16-storey hotel, which opened in 2019, was developed by Frasers Property group, which is the vendor. The hotel is being sold with a lease ending in February 2096, leaving a balance term of about 69.5 years.
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