REITs
Charin has a solid REITs practice background, which involved in the primary listings and secondary fund raisings, and conversion from property fund into REITs of many of the real estate investment trusts (REITs) in Thailand. Charin has been closely involved in these transactions since the development of the REITs market in Thailand.
Charin has represented Sponsors, Assets Owners, Fund Managers and Financial Advisors in establishment, including capital increase of several REITs that raised funds from local and international investors to invest in real estate projects. In addition, Charin has also represented several REIT Managers relating to the establishment of the REIT Manager. Charin has in-depth knowledge and expertise in various categories of assets, including retails, office, factories, residential and hotel and hospitality across Thailand.
Below are some of the transactions Charin has represented over the past:
Charin has represented Sponsors, Assets Owners, Fund Managers and Financial Advisors in establishment, including capital increase of several REITs that raised funds from local and international investors to invest in real estate projects. In addition, Charin has also represented several REIT Managers relating to the establishment of the REIT Manager. Charin has in-depth knowledge and expertise in various categories of assets, including retails, office, factories, residential and hotel and hospitality across Thailand.
- Frasers Property Thailand Industrial Freehold and Leasehold Real Estate Investment Trust, representing and advising Frasers Property Industrial REIT Management (Thailand) Company Limited in connection with the acquisition of additional assets with the total value of THB 3,690 Million.
- Frasers Property Thailand Industrial Freehold and Leasehold Real Estate Investment Trust, advising Frasers Property Industrial REIT Management (Thailand) Company Limited as the REIT Manager, BBL Asset Management Co., Ltd. (BBLAM) as the Trustee and Phatra Securities Public Co., Ltd. (Phatra) as the Financial Advisor, which after the conversion, it has a total assets value of THB 36,00 Million for an investment in factory and warehouse buildings.
- WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust, advising and representing WHA Real Estate Management Co., Ltd (WHAREM) as the REIT manager in connection with the capital increase and the acquisition of additional assets with the total assets of THB 4,464.5 Million.
- AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT), advising and representing AIM REIT Management Company Limited, SCB Asset Management Company Limited (SCBAM) as the Trustee in relation to invest in real estates, which has a total asset value of THB 110 Million.
- Sri Panwa Hospitality Real Estate Investment Trust (SPWRT), advising and representing Ruam Issara Development in connection with the acquisition of additional assets with the total assets of Baht 550 Million.
- AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT), advising AIM REIT Management Company Limited (AIM REIT) as the REIT Manager, SCB Asset Management Company Limited (SCBAM) as the Trustee, Bank of Ayudhya Public Company Limited and Maybank Kim Eng Securities (Thailand) Public Company Limited as the financial advisors, JWD Infologistics Public Company Limited (a public company listed on the Stock Exchange of Thailand) and its affiliate and TIP Holding Company Limited, as the owner of the assets, in establishment of AIMIRT to invest in warehouse buildings, which has a total asset value of THB 2,200 Million.
- GLAND Office Leasehold Real Estate Investment Trust (GLANDRT), advising GLAND REIT Management Company Limited (GLANDRM) as the REIT Manager of GLAND Office Leasehold Real Estate Investment Trust (GLANDRT), SCB Asset Management Company Limited (SCBAM) as the Trustee of GLANDRT, Siam Commercial Bank Public Company Limited (SCB) and Krungthai Bank Public Company Limited (KTB) as the Financial Advisors, and Grand Canal Land Public Company Limited (GLAND) and Sterling Equity Company Limited as the owners of the assets on the establishment of GLANDRT with the total investment value of Baht 5,997 Million.
- Grande Hospitality Real Estate Investment Trust (GAHREIT), advising One Asset Management (ONEAM) as the REIT Manager of GAHREIT, BBL Asset Management Co., Ltd. (BBLAM) as the Trustee of GAHREIT, Baker Tilly Corporate Advisory Services (Thailand) Limited as Financial Advisor and Honor Business Co., Ltd., a subsidiary of Grande Asset Hotels and Property Public Company Limited, as the owner of the asset in establishment of GAHREIT to invest in Sheraton Hotel Hua Hin, which has a total asset value of THB 1,800 Million.
- Hemaraj Leasehold Real Estate Investment Trust (HREIT), advising Hemaraj REIT Management Co., Ltd. (HRM) as the REIT Manager of HREIT, SCB Asset Management Company Limited (SCBAM) as the Trustee of HREIT, Siam Commercial Bank Public Company Limited (SCB) as Financial Advisor and Hemaraj Land and Development Public Company Limited (HEMARAJ) and its affiliates as the owner of the assets on the capital increase with the total investment value of Baht 1,589 Million for an additional investment in leasehold right of factory and warehouse buildings.
- Sub Sri Thai Real Estate Investment Trust (SSTRT), advising SST REIT MANAGEMENT Co., Ltd. (SSTRM) as the REIT Manager of SSTRT, One Asset Management Limited (ONEAM) as the Fund Manager of SSTSS and Trustee of SSTRT and Siam Commercial Bank Public Company Limited (SCB) as Financial Advisor to convert SSTSS to SSTRT, which after the conversion, SSTRT has a total assets value of THB 850 Million for an investment in warehouse and document storage buildings.
- Frasers Freehold and Leasehold Real Estate Investment Trust, advising Frasers Property Industrial REIT Management as the REIT Manager, BBL Asset Management Co., Ltd. (BBLAM) as the Trustee and Phatra Securities Public Co., Ltd. (Phatra) as the Financial Advisor, which after the conversion, it has a total assets value of THB 36,000 Million for an investment in factory and warehouse buildings.
- WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust (WHART), advising WHA Real Estate Management Co., Ltd. (WHAREM) as the REIT Manager of WHART, Kasikorn Asset Management Co., Ltd. (KA) as the Trustee of WHART and the Fund Manager of WHAPF, Kasikorn Bank Public Company Limited (KBANK) as Financial Advisor, WHA Corporation Public Company Limited (WHA) as the owner of the assets relating to conversion of WHAPF into WHART with additional investment from WHA and its affiliates, which after the conversion and additional investment, WHART has a total assets value of THB 26,000 Million for an investment in factory and warehouse buildings.
- Capital Increase of WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust (WHART), advising WHA Real Estate Management Co., Ltd. (WHAREM) as the REIT Manager of WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust (WHART), Kasikorn Asset Management Co., Ltd. (KA) as the Trustee, Kasikorn Bank Public Company Limited (KBANK) as Financial Advisory and WHA Corporation Public Company Limited (WHA) as the owner of the assets on the capital increase with the total investment value of Baht 4,190 Million.
- Establishment of Hemaraj Leasehold Real Estate Investment Trust (HREIT), advising Hemaraj REIT Management Co., Ltd. (HRM) as the REIT Manager of Hemaraj Leasehold Real Estate Investment Trust (HREIT), SCB Asset Management Company Limited (SCBAM) as the Trustee of HREIT, Siam Commercial Bank Public Company Limited (SCB) as Financial Advisory and Hemaraj Land and Development Public Company Limited (HEMARAJ) as the owner of the assets on the establishment of HREIT with the total investment value of Baht 8,018 Million.
- First Conversion of Sri Panwa Hotel Property Fund (SPWPF) into Sri Panwa Hospitality Real Estate Investment Trust (SRIPANWA), advising Charn Issara REIT Management Co., Ltd. (CIRM) as the REIT Manager of Sri Panwa Hospitality Real Estate Investment Trust (SRIPANWA), SCB Asset Management Company Limited (SCBAM), as the Fund Manager of Sri panwa Hotel Property Fund (SPWPF) and as the Trustee of SRIPANWA, Siam Commercial Bank Public Company Limited (SCB) as Financial Advisory and Charn Issara Residence Company Limited (CIR) as the owner of the new assets to be invested by SRIPANWA once converted from SPWPF, on the conversion of SPWPF to SRIPANWA with additional investment having total investment value (from conversion and new assets) of Baht 3,526 Million.
- Prime Office Property Fund (POPF), advising SCB Asset Management Company Limited (Fund Manager) as the management company of Prime Office Leasehold Property Fund and Teo Hong Silom Co., Ltd. (the owner of the assets) on the additional THB 2 Billion investment in leasehold right of office buildings of Bangna Tower Project.
- Establishment and Offering of Sri Panwa Hotel Property Fund (SPWPF), advising Charn Issara Residence Co., Ltd. and SCB Asset Management Company Limited on the establishment of Sri panwa Hotel Property Fund (SPWPF) with the fund value of Baht 2,001,830,000. SPWPF invested in ownership of Sri panwa Project in Phuket, Thailand.
MERGER & ACQUISITIONS
Below are some of the transactions Charin has represented over the past:
Charin advises clients on various M&A and corporate transactions not only for domestic transactions but also for cross-border transactions focusing on the ASEAN Economic Community (AEC), and across all the major industrial sectors, including real estate, power plant and infrastructure project.
Our experiences enable us to cope with numerous issues and provide innovative structures to simplify the complexity of transactions and to provide advice to both listed companies and private companies on shares and business acquisitions and disposals, joint ventures, takeovers, amalgamation, corporate reorganizations, capital restructuring, private equity investments and transactional related works.
Our experiences enable us to cope with numerous issues and provide innovative structures to simplify the complexity of transactions and to provide advice to both listed companies and private companies on shares and business acquisitions and disposals, joint ventures, takeovers, amalgamation, corporate reorganizations, capital restructuring, private equity investments and transactional related works.
Below are some of the transactions Charin has represented over the past:
- DTGO Corporation Limited, advising and acting as transaction manager for DTGO Prosperous Limited in its acquisition of a portfolio of 17 hotels in the United Kingdom from Marathon Asset Management, fundraising in the Thai capital market, and financing negotiation with Goldman Sachs in the UK, from structuring/bid stage through closing
- Frasers Property (Thailand) Public Company Limited, advising Frasers Property on joint venture with STT Thailand DC PTE LTD to establish data system business.
- Sangfah Construction Ltd., advising Sangfah on acquiring properties, namely Harbor View Residence Project.
- JustCo Thailand, advising on the process of joint venture with Frasers Property (Thailand) Public Company Limited to form co- working space business.
- PTG Energy Public Company Limited, representing and advising PTG Energy Public Company Limited relating to an acquisition of 38.6% of shares in Siam Autobacs Company Limited from Autobacs Seven Japan and a joint venture therewith.
- Joint Venture of Innotech Green Energy Company Limited, representing and advising Eiamburapa Co., Ltd. and PTG Green Energy Company Limited (a subsidiary of PTG Energy Public Company Limited) with a registered capital of a Baht 100 million joint venture in connection with the establishment of a new company; namely “Innotech Green Energy Company Limited” to produce bio-ethanol made from cassava pulp in Thailand.
- Development Bank of Japan, advising Development Bank of Japan (DBJ) in relation to request for the waiver for making a tender offer of all securities in CPR Gomu Industrial Public Company Limited (CPR) (a public company listed on the Stock Exchange of Thailand) from the Office of the Securities and Exchange Commission of Thailand and the Takeover Panel pursuant to the Takeover Rules as a result of a tender offer bid in Japan and the internal corporate restructuring of CPR’s major shareholders in Japan.
- Nok Airlines Public Company Limited, advising Nok Airlines Public Company Limited in a Baht 2 billion joint venture with Scoot Pte. Ltd. in connection with establishment of a new low-cost carrier; namely “NokScoot” to operate flight primarily on international routes based in Bangkok, Thailand.
- Nok Airlines Public Company, representing and advising Nok Airlines Public Company Limited in a Baht 271 million joint venture with ANA Holdings Inc. and Assumption University (AU) in connection with establishment of a new pilot training center based in Samutprakarn Province (AU Suvarnabhumi campus), Thailand.
BANKING & FINANCE
Below are some of the transactions Charin has represented over the past:
Charin advises clients on various banking and financial transactions, ranging from plain vanilla financing to more complicated project and structured financing. Our in-depth understanding of various industries, including real estates, manufacturing, power and infrastructure, also enables us to be proficient in both commercial and practicality of the businesses thus allows us to provide legal advices to both borrowers and lenders more effectively and efficaciously.
Below are some of the transactions Charin has represented over the past:
- Heng Leasing, representing Heng Leasing, one of the prominent Thai car finance companies, for the syndicated loans from K Bank and LH Bank and advising on other related financial agreements.
- AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT), representing AIMIRT in the financing for the investment and acquisition of assets with the loan value of Baht 590 Million from Kiatnakin Bank.
- Gland Office Leasehold Real Estate Investment Trust (GLANDRT), representing GLANDRT in the financing for the investment and acquisition of assets with the loan value of Baht 1,000 Million from Siam Commercial Bank.
- Hemaraj Leasehold Real Estate Investment Trust (HREIT), representing HREIT in the financing for the investment and acquisition of assets with the loan value of approximately Baht 2,325 Million (for initial investment assets) and Baht 575 Million (for additional investment no.1) from Siam Commercial Bank.
- Frasers Property Thailand Industrial Freehold and Leasehold Real Estate Investment Trust, representing in the financing for the investment and acquisition of assets from conversion with the loan value of Baht 3,740 Million from Kiatnakin Bank and Bangkok Bank.
- WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust (WHART), rrepresenting WHART and Kasikorn Bank PLC in the financing for the investment and acquisition of assets with the loan value of Baht 3,105 Million (for additional investment no. 2) and Baht 2,247 Million (for conversion and additional investment no.3) from Kasikorn Bank PLC.
- Heng Leasing Company Limited, representing Kasikorn Bank PLC and Land and House Bank PLC in the Baht 2.8 Million syndicated loan.
- Sri Panwa Hospitality Real Estate Investment Trust (SRIPANWA), representing SRIPANWA in the financing for the investment and acquisition of assets with the loan value of Baht 450 Million (for conversion and additional investment no.1) from Bank of Ayudhya.
REAL ESTATE DEVELOPMENT
Charin also advises clients in all legal aspects of real estate projects including zoning, permits and environmental laws. We are capable of advising clients of both new development and acquisitions of existing projects. Charin has been advising clients in the development of high-rise condominium projects in CBD area and development of mixed used real estate projects that includes developments of hotel, apartment, luxury villas for sale and golf course.
CAPITAL MARKETS
Below are some of the transactions Charin has represented over the past:
Charin offers legal advice in a wide range of capital markets transactions and has advised clients in public offerings and private placement of equity and debt securities, including Initial Public Offerings, secondary public offerings, private placements and rights offerings of the companies in various industries; for example, airlines, trading and logistics.
With our lawyers’ extensive experience, Charin also provides legal advices to issuers, underwriters, asset management companies, investors, other capital market participants on compliance with general corporate law, securities laws and regulations and corporate governance and disclosure requirements.
With our lawyers’ extensive experience, Charin also provides legal advices to issuers, underwriters, asset management companies, investors, other capital market participants on compliance with general corporate law, securities laws and regulations and corporate governance and disclosure requirements.
Below are some of the transactions Charin has represented over the past:
- NokScoot, advising Nokscoot in relation to its capital increase and other significant legal corporate matters.
- Nok Airlines Public Company Limited, advising Nok Airlines Public Company Limited in relation to its rights offerings.
- S.Kijchai Enterprise Public Company Limited, advising S.Kijchai Enterprise Public Company Limited, a manufacturer and exporter of MDF, in relation to its initial public offering and listing of ordinary shares on Stock Exchange of Thailand.
- Bangkok Airways Public Company Limited, advising Bangkok Airways Public Company Limited (BA) in relation to the initial public offering, the sale of secondary shares by a shareholder of Bangkok Airways and listing of 625,000,000 shares on the Stock Exchange of Thailand having the capital of Baht 13,000 million.
- Frasers Property (Thailand) Public Company Limited, advising Frasers (a public company listed on the Stock Exchange of Thailand) in relation to the offering and allotment of shares remaining from the exercise of Transferable Subscription Rights (“TSRs”) to Rojana Industrial Park Public Company Limited (a major shareholder of Frasers) on a Private Placement basis and the entering into the connected transaction.
- Sea Oil Public Company Limited, advising Sea Oil Public Company Limited (SEAOIL) in relation to the initial public offering and listing of 180,000,000 shares on the MAI having the capital of Baht 180,000,000.
- NCL International Logistics Public Company Limited, advising NCL International Logistics Public Company Limited in relation to its initial public offering and listing of ordinary shares on Stock Exchange of Thailand.
PRIVATE WEALTH
Aiming to assist our clients in preserving and growing their current wealth for today and future generations, Charin has been advising high net-worth individuals and families relating to asset management, protection, succession and estate planning across generations.
Particularly, drawing on diverse expertise across the firm practices, Charin has advised our clients on establishing holding companies for assets planning (both real estates and shares), preparing wills and family constitutions and assisting on the inauguration of family office.
Particularly, drawing on diverse expertise across the firm practices, Charin has advised our clients on establishing holding companies for assets planning (both real estates and shares), preparing wills and family constitutions and assisting on the inauguration of family office.