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BT EXCLUSIVE

AEW sells Rivervale Mall for S$230m to SC Capital Partners

Price for property in Sengkang reflects net yield of slightly over 4%

BT_20190313_RIVERVALE_3722129.jpg
AEW bought Rivervale Mall in 2015 for S$190.5 million from CMT and refurbished it in the second half of 2016 The mall is on a site with 99-year leasehold tenure starting Dec 6, 1997.

Singapore

US-BASED property fund manager AEW has sold Rivervale Mall in Sengkang for S$230 million, BT understands.

The buyer is SC Capital Partners, a Singapore-based private equity real estate firm chaired by Suchad Chiaranussati, who is married to a niece of property and hotel

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