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Colliers International has been appointed to arrange the en-bloc
sale of 82 luxury serviced apartment units in Forbes Tower, Salcedo
Village, Makati, through a tender for the property which is
currently operated as a serviced apartment by Singapore-based
Frasers Hospitality.
The luxury serviced apartment is owned by Asia
Special Situations M3P2 (SPV-AMC), Inc. that acquired the property
from United Coconut Planters Bank. Asia Special Situations is a
financial investor.
“Having run an occupancy rate of 95 percent
for the past three years, Forbes Tower presents a rare opportunity
to acquire investment grade, income-producing residential property
in the Makati market” according to David Young, managing director
at Colliers International Philippines. “Occupancy and room rates
for hotels, serviced apartments and luxury condominiums in Makati
are at historic highs and we expect Forbes Tower to attract interest
from both investors and hospitality related operators,” added
Young.
Colliers International Philippines, Inc. is a
subsidiary of Colliers Macaulay Nicholls, Inc. (CMN), a member firm
of Colliers International, an affiliation of independent companies
with 267 offices in 57 countries worldwide. CMN is the largest
member firm of Colliers International and provides a full range of
services to real estate users, owners and investors worldwide.
Colliers International Philippines, Inc. was established in 1995.
The company now employs 400 staff.
Find out more at http://www.colliers.com/philippines.
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