Coliwoo Expects S$18.7 Million in Net Proceeds from Strategic River Valley Asset Sale and Leaseback Deal
Coliwoo, a prominent co-living brand under parent group LHN Limited, anticipates generating roughly S$18.7 million in estimated net cash proceeds from the direct sale of two properties located in Singapore's prime River Valley precinct. This cash injection is calculated following the essential repayment of bank borrowings secured against the assets, along with clearing transaction-related expenses and completion adjustments. The transaction forms a core component of a broader S$45.8 million sale and leaseback arrangement executed with an independent third-party buyer. Under the structure of this deal, Coliwoo will successfully unlock capital from its real estate holdings while retaining full operational control of the assets. The properties will continue to operate seamlessly under the flagship Coliwoo brand without disrupting ongoing tenant services or day to day co-living management. Financially, management notes that while the aggregate consideration surpasses origi...