Unitholders of Soilbuild Business Space REIT (SB REIT) had reason to cheer on Dec 14. Lim Chap Huat — founder and chairman of SB REIT sponsor Soilbuild Group Holdings — together with a unit of Blackstone Real Estate have teamed up in a joint venture which is 30.28% held by Lim and 69.72% held by Blackstone. Their aim: To take SB REIT private. The proposed privatisation and delisting of SB REIT is to be effected by way of a trust scheme of arrangement.

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