Sri panwa Hospitality Real Estate Investment Trust cancelled the acquisition of multiple properties located at No. 758, Phetkasem Road, Cha Am Sub-District, Cha Am District, Petchaburi from Issara United Development Co., Ltd.
November 08, 2019
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Sri panwa Hospitality Real Estate Investment Trust (SET:SRIPANWA) agreed to acquire multiple properties located at No. 758, Phetkasem Road, Cha Am Sub-District, Cha Am District, Petchaburi from Issara United Development Co., Ltd for THB 550 million on November 8, 2018. The properties include land of 3 title deeds, building A, building B, a restaurant and various property in relation to a hotel business operations. The transaction was resolved by the Board of Charn Issara REIT Management Company Limited on November 8, 2018. The transaction is subject to shareholders' approval of Charn Issara REIT Management Company Limited. Baker Tilly Corporate Advisory Services (Thailand) Limited acted as financial advisor to Charn Issara REIT Management Company Limited.
Sri panwa Hospitality Real Estate Investment Trust (SET:SRIPANWA) cancelled the acquisition of multiple properties located at No. 758, Phetkasem Road, Cha Am Sub-District, Cha Am District, Petchaburi from Issara United Development Co., Ltd on November 8, 2019.
Sri Panwa Hospitality Real Estate Investment Trust (the Trust) is a Thailand-based closed-end trust. The Trustâs objectives are to raise funds from general investors and to use the proceeds from such fund raising to invest in property or property leasehold rights and generate benefit from such properties, including to lease and/or render services related to rental properties, in which the Trust invest or other process for the benefit of the property and create the revenue and return to the Trust and the unitholders. This includes investment in other assets and/or securities and/or seeks benefit by any other means as prescribed by securities laws and/or other relevant law. The property consists of Villa, Pool Suite, Penthouse, and Residence Villa. The Trust is managed by Charn Issara REIT Management Co., Ltd.
Sri panwa Hospitality Real Estate Investment Trust cancelled the acquisition of multiple properties located at No. 758, Phetkasem Road, Cha Am Sub-District, Cha Am District, Petchaburi from Issara United Development Co., Ltd.