American Strategic Investment has reviewed its holdings at 123 William Street and 196 Orchard in Singapore to evaluate potential sales and value unlocking.
This review signals a shift toward lean balance sheet management as the company attempts to prune non-core holdings while maintaining a stable tenant base in a competitive real estate market.
The company reported that occupancy for the two assets remains around 80.3% [2]. Furthermore, approximately 60% of the leases for these properties extend beyond 2030 [1]. These figures provide a baseline of stability as the firm considers its options for the sites.
Nicholas Schorsch said the quarter was focused on reduction of recurring expenses and management of the balance sheet, while staying committed to operating and unlocking value at current assets with a focus on tenant retention.
The strategic review is part of a broader effort to improve properties and increase cost efficiency. By focusing on long-term leases, the firm aims to secure recurring revenue while addressing immediate operational costs.
Schorsch said, "We remain committed to operating and unlocking value at our current assets with a focus on tenant retention, property improvements, and cost efficiency, while simultaneously pruning non‑core holdings."
The management view of these assets was outlined during the first quarter of 2026, following an earnings call held in the fourth quarter of 2025 [1, 2]. The company is currently balancing the need to retain existing tenants with the goal of improving the overall quality of the properties to maximize their eventual market value.
“Approximately 60% of the leases for these properties extend beyond 2030.”
The high percentage of leases extending past 2030 suggests that American Strategic Investment has secured long-term stability for these Singaporean assets. However, the simultaneous focus on 'pruning non-core holdings' and reducing recurring expenses indicates the company is prioritizing liquidity and balance sheet health over aggressive expansion. This approach allows the firm to maintain a steady income stream while searching for the optimal moment to divest these properties at a premium.
