Hotel · Singapore Marina Bay
Marina Bay Sands Singapore
10 Bayfront Avenue, Singapore Marina Bay · Built 2010 · 55 floors
Partial
Current value
$8.50B
▲ 4.9% 1-yr (modeled)
Cap rate
5.60%
▲ 200 bps vs 3.60% submarket
NOI · derived
$476.0M
Value $/SF
$1,700
sourcedmodeled0 of 6 sourced
Ownership & debt
Ownership graph
Asset → owner → parent → beneficial owner · every edge sourcedOwnership transparency
Recorded chainRecorded owners
Marina Bay Sands Pte Ltd
Fee simple · 100% interest
Ultimate beneficial owner — as recorded
Las Vegas Sands Corp.
Beneficial interest
Las Vegas Sands Corp. (NYSE: LVS); controlling shareholder Miriam Adelson / Adelson family. Land leased from the Government of Singapore (via the Singapore Tourism Board) under a long-term lease extending to 2066.
Beneficial interest
Debt
Syndicate coordinated by DBS, Malayan Banking (Maybank), OCBC and United Overseas Bank (UOB), plus 22 additional lenders; borrower Marina Bay Sands Pte Ltd ('2025 Singapore Credit Facility Agreement')
Syndicated term and revolving credit facilities (S$12 billion, ~US$9 billion; largest syndicated corporate loan in Singapore's history) for the MBS IR2 expansion
$9.00B
LTV
105.88%
Debt yield
5.29%
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.
Financials
Modeled from sourced NOI, debt & rent inputsUnderwriting
Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
8.0%
Exit cap
5.85%
Exit value
$9.43B
Exit NOI
$551.8M
Unlevered IRR sensitivity — exit cap Δ × NOI growth
| Exit Δ | 2.0% | 2.5% | 3.0% | 3.5% | 4.0% |
|---|---|---|---|---|---|
| -25 bps | 8.6% | 9.1% | 9.6% | 10.1% | 10.7% |
| 0 bps | 7.7% | 8.2% | 8.8% | 9.3% | 9.8% |
| +25 bps | 6.9% | 7.4% | 8.0% | 8.5% | 9.0% |
| +50 bps | 6.2% | 6.7% | 7.2% | 7.7% | 8.3% |
| +75 bps | 5.5% | 6.0% | 6.5% | 7.0% | 7.5% |
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.
Provenance footnotes
- Current value: Estimated — no sourced claim on file.
- Cap rate: Estimated — no sourced claim on file.
- NOI: Estimated — no sourced claim on file.
- $/SF: Estimated — no sourced claim on file.
- GLA: Estimated — no sourced claim on file.
- Ownership — Marina Bay Sands Pte Ltd: Single source — en.wikipedia.org · https://en.wikipedia.org/wiki/Marina_Bay_Sands
- Debt — Syndicate coordinated by DBS, Malayan Banking (Maybank), OCBC and United Overseas Bank (UOB), plus 22 additional lenders; borrower Marina Bay Sands Pte Ltd ('2025 Singapore Credit Facility Agreement'): Single source — allenandgledhill.com · https://www.allenandgledhill.com/sg/perspectives/articles/30101/s-12-billion-term-and-revolving-loan-facilities-to-marina-bay-sands
Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.
Anchoring begins when the asset enters the live ledger.