Chandler MHM

Tananan Thammakiat

Partner

Tananan Thammakiat

Print profile

Languages
English Thai

Contact Information

Practices

Summary

SPECIAL RECOGNITION

  • Chambers and Partners Asia Pacific 2024 – Band 3 - Real Estate
  • The Legal 500, Asia Pacific 2024 – Recommended - Real Estate and Construction
  • asialaw Leading Lawyers 2023/24 – Distinguished practitioner - Real Estate
  • IFLR1000 2023-24 – Highly regarded - Capital Markets
  • Asian Legal Business – Thailand Rising Stars 2023
  • Asian Legal Business – Asia 40 under 40 - the region’s finest young legal minds

KEY QUALIFICATIONS

Tananan is a Partner at Chandler MHM.  She specializes in Real Estate Investment Trusts (REITs), real estate and mergers and acquisitions. Tananan has been representing major clients in the establishment, capital increases of a number of major REITs and property funds for public offerings (“PFPOs”), a structure similar to Real Estate Investment Trusts, and on the conversion of PFPOs into REITs, including domestic and international offerings.  In addition, Tananan has experience on a number of mergers and acquisitions of listed and non-listed companies, for both domestic and cross-border transactions.

RELEVANT CLIENT EXPERIENCE

Some Representative Transactions:

  • Bangkok Airways Public Company Limited in setting up a Real Estate Investment Trust (REIT), namely “BAREIT” and a REIT Manager to manage the REIT in Thailand. BAREIT was the first REIT which invested in airport properties in Thailand and in 2022 was one of the five largest REIT IPOs in Thailand.
  • Prospect Development Company Limited in setting up the Prospect Logistics and Industrial Leasehold Real Estate Investment Trust (PROSPECT) and the REIT Manager to manage the REIT in Thailand. PROSPECT invests in leasehold rights of approximately 19 years over land and factories and warehouses located in Industrial Zones including the Bangkok Free Trade Zone, located in Samutprakarn, Thailand. (First and only REIT IPO of 2020 in Thailand)
  • Internet Thailand PCL on the setting up of INETREIT, which is the first real estate investment trust (“REIT”) to invest in a data center in Thailand and advised on the establishment of the REIT Manager to manage the REIT in addition to advising Internet Thailand PCL and KASIKORNBANK PCL on the financing for the investment.
  • GLAND Office Leasehold Real Estate Investment Trust (GLANDRT) on the divestment of all its assets to the CPN Retail Growth Leasehold Real Estate Investment Trust (CPNREIT). CPN is one of Thailand's largest retail property development and investment companies. It is a business unit under its parent, the Central Group. (This was the first divestment transaction between a REIT and another REIT. Post divestment, GLANDRT will be the first REIT in Thailand to be dissolved).
  • Siam Chemicals Public Company Limited as the Sponsor to dispose assets (consisting of a liquid chemical storage tank and warehouse buildings) into AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT) from AIMIRT’s capital increase. (This deal won the most innovative deal award from The Asset Triple A Country Awards 2019).
  • CIMB Thai Bank Public Company (CIMBT) as both the lender (debt) and the underwriter (equity – capital increase) to raise funds for a cross-border Dusit Thani Freehold and Leasehold Real Estate Investment Trust to invest in a new asset in the Maldives (Dusit Thani Maldives hotel project). Dusit Thani is a global hospitality and food and beverage company. The investment structure was complex involving an investment by a Thai Real Estate Investment Trust (REIT) in an overseas asset (in the Maldives). The REIT made an indirect investment through a Special Purpose Vehicle (SVP) which resulted in a complicated loan structure with offshore security (leasehold right and hotel in Maldives).
  • WHA Industrial REIT Management Co., Ltd, as the REIT Manager of Hemaraj Leasehold Real Estate Investment Trust (HREIT), in respect to its second capital increase and represented Kasikorn Bank Public Company Limited (KBank) as the lender to HREIT. The purpose of the capital increase and fund raising is to invest in new assets.

EDUCATION

  • The London School of Economics and Political Science (LL.M. in Corporate and Commercial Law, 2013)
  • Thammasat University (LL.B., 2007)

QUALIFICATION

  • Thai lawyer license, 2010

MEMBERSHIP

  • Member of the Lawyers Council of Thailand
  • Extraordinary Member of Thai Bar Association

OTHER EXPERIENCE/PROFESSIONAL AFFILIATIONS

  • “Real Estate Financings plus Update on Regional Renewable Projects” (In-House Congress Bangkok, 2018, speaker)
  • “Conversion of PFPOs into REITs” (The Stock Exchange of Thailand Seminar, 2017, speaker)
  • “Trust REITs and conversion of PFPOs into REITs” (the Investment Banking Club (IB), Association of Thai Securities Companies, 2017, speaker)
  • “Conversion of PFPOs into REITs” (WHA Premium Factory, Warehouse Freehold, Leasehold Property Fund, WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust Pre-Unitholders Meeting, 2017, speaker)
  • “Conversion of PFPOs into REITs” (TICON Property Fund (TFUND), TPARK Logistics Property Fund (TLOGIS), TICON Industrial Growth Leasehold Property Fund (TGROWTH) and Ticon Freehold and Leasehold Real Estate Investment Trust (TREIT) Pre-Unitholders Meeting, 2017, speaker)
  • “Conversion of PFPOs into REITs” (Sub Sri Thai Smart Storage Property Fund (SSTSS) Pre-Unitholders Meeting, 2017, speaker)

Tananan Thammakiat:Newsletters

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