Perpetual will also be trustee for the assets the REIT holds in Australia, including the Novotel Rockford Darling Harbour and Frasers Suites, Sydney.
Frasers Hospitality Trust holds hotels and serviced residences in Singapore and across the region and has raised $365.2 million in Singaporean currency.
The REIT also has the right of first refusal to purchase six further hospitality assets in Australia, including the Sofitel Sydney Wentworth; InterContinental, Adelaide; Hyatt Hotel Canberra; Fraser Place Melbourne; Capri by Fraser, Brisbane; and Fraser Suites Perth.
Perpetual general manager of corporate clients Andrew Cannane said Singapore continues to grow as a major regional hub for REITs.
“We continue to experience strong demand for our Singapore trustee services as well as trustee services for cross-border transactions incorporating Australian assets,” said Mr Cannane.
Perpetual is currently working on a number of other Singapore REIT mandates that may list in the remainder of this calendar year, he added.
“Perpetual’s expansion into Singapore, following the acquisition of The Trust Company, means we are uniquely placed as the only trustee with licences in Singapore and Australia,” Mr Cannane said.
“Therefore we are able to provide our expertise in both markets and facilitate cross-border transactions between the two regional neighbours.”
