Macquarie Prime REIT renamed as Starhill Global REIT

Singapore-listed Macquarie Prime Real Estate Investment Trust (REIT) has been renamed the Starhill Global REIT.

This came after Starhill Global REIT Investments bought a 26 per cent stake in the REIT, as well as a 50 per cent stake in Macquarie Prime REIT’s manager, Macquarie Pacific Star Prime REIT Management.

Starhill Global is an indirect wholly-owned subsidiary of Malaysia-based conglomerate YTL Corporation.

Tan Sri Dato Francis Yeoh has been appointed executive chairman of Macquarie Pacific Star Prime REIT Management, which will be renamed YTL Pacific Star REIT Management.

Starhill Global REIT’s current portfolio consists of retail and office properties in Japan, China and Singapore, which includes properties such as Wisma Atria and Ngee Ann City.

Source : Channel NewsAsia – 31 Dec 2008

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