EverLand Opportunities IX Limited agreed to acquire Strategic Hospitality Holding Limited from Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SET:SHREIT) for approximately $103 million on June 2, 2023. The parties signed agreement on June 5, 2023. The transaction is expected to close on June 8, 2023 and no later than June 9, 2023.

If the parties are unable to resolve the disputed matters through amicable consultation, any party shall refer the dispute in connection with the SPA to be resolved by arbitration administered by the Singapore International Arbitration Centre. SHREIT used part of the consideration for repayment of the outstanding bank loan before due date of June 9, 2023. Jones Lang LaSalle acted as a broker in the sale.