Frasers Centrepoint has completed its acquisition of an 18-per-cent stake in Allco Reit and all of Allco Singapore, which manages the property trust. Allco Reit will now be renamed Frasers Commercial Trust following the $180-million deal. Frasers Centrepoint has now dropped plans to list its own separate commercial property trust. Instead, it will offer its current portfolio of commercial assets, worth...
Allco Reit
Frasers Centrepoint, a unit of Fraser and Neave, says it's buying 18 percent of Allco REIT and all of Allco Singapore, which manages the trust. The deal is valued at S$180 million. Frasers Centrepoint will rename Allco REIT to Frasers Commercial Trust when the transaction is completed. Under the deal, Frasers Centrepoint will buy about 126 million shares in Allco REIT for 83 Singapore cents a share, a...
Allco Commercial REIT said on Wednesday it is putting its stakes in two properties in Australia up for sale and has appointed sales agents for these properties. The properties are Central Park in Perth and Centrelink Headquarters in Canberra. Together, they are valued at around A$483 million or S$624 million. CB Richard Ellis and Jones Lang LaSalle (JLL) will sell Allco's 50 percent interest in Central...