Singapore-based Jurong Point Realty (JPR) will follow the example of other property developers like CapitaLand and Ascendas Real Estate by launching a CMBS offering. Local firm Overseas Chinese Banking Corp. is arranging the S$227 million ($134.8 million) deal, to be placed via the Winmall SPV.

The transaction is backed by a first registered mortgage held on the seven-floor Jurong Point shopping center. Currently, the center has 100% occupancy and is independently valued at S$525 million, with annual income of around S$37.2 million.

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