Several prominent investment firms, including Bain Capital and Apollo Global Management Inc., are reportedly showing interest in Avery Lodge, a worker housing firm owned by Blackstone Inc.
Avery Lodge's portfolio consists of four purpose-built worker compounds with a total of approximately 1,700 units.
Brookfield Asset Management Ltd. has also expressed interest in the portfolio.
The transaction process for Avery Lodge is currently private, but sources estimate its valuation to be around S$750 million, equivalent to approximately $568 million.
The interest from these major players highlights the increasing demand for specialized worker housing solutions in the current market.