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LHN announces JV with Oxley's Ching

The Edge Singapore
The Edge Singapore  • 1 min read
LHN announces JV with Oxley's Ching
Wilmer Place
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On April 9, LHN annonuced the setting up of a joint-venture (JV company) with the JV Partner Ching Chiat Kwong, executive chairman and CEO of Oxley Holdings 5UX -

, and his son Shawn Ching, to acquire a property at 50 Armenian Street, Wilmer Place, for $26.5 million excluding GST. 

Coliwoo Holdings, a unit of LHN will hold 50% of the JV company, and the JV Partner 50%, with Ching Chiat Kwong holding 45% and son Shawn Ching 5%. Both Coliwoo and the JV Parner's contributions to the JV company will be $24 million each. 

An asset enhancement initiative (AEI) is likely for Wilmer, with LHN as project manager. Following the AEI, Coliwoo will manage the property under the Coliwoo brand as a co-living space.      


 

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