Aquaint eyes distressed property assets in Australia -sources

By VCPOST Staff Reporter

Jan 16, 2014 10:21 PM EST

Singapore-backed property investor Aquaint Capital is looking to buy distressed property assets in Australia, people familiar with the situation reported. The unnamed sources also said the firm is planning a fresh capital raising to fund the potential acquisitions, wrote Business Spectator.

Aquaint is the newly Australia-listed holding firm of Singaporean property seminar group with the same name. Despite its success in Asia, the company has not yet achieved the same feat in Australia. This is because of the negative local perception around the purchase of distressed assets, said the report.

The group said it runs around 20 property funds and has around 4,000 investors mostly from Malaysia, Taiwan, and Singapore. Aquaint has also poured in investments into development funds that own properties in India and Germany, the report detailed.

The property investor plans to buy distressed residential and commercial property assets across Australia. Aquaint plans to improve the said assets before selling them at a higher price, the report explained.

The Singapore-based asset manager is considering selling two investment properties in Malaysia to help fund the Australian purchases. The properties in question are the Pariss Hotel and City Plaza. Aquaint is also sourcing investments from Malaysia and Thailand, Business Spectator reported.

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