ARA Asset Management Ltd has won the bid for a stake in Singapore's Capital Square office tower in the city's central business district, according to people familiar with the matter. ARA, which is listed in Singapore, is buying the 50 per cent stake in the building that was put up for sale last year by Alpha Investment Partners, said the people, who asked not to be identified because the process is...
Capital Square
Alpha Investment Partners Limited (AIP) - which is the property fund management arm of Keppel Land - and NTUC Income have agreed to jointly acquire Capital Square for S$889 million. Under the deal, Alpha Investment Partners will buy over a 50 per cent stake through its Macro Trends Fund. NTUC Income will hold the other 50 per cent. Alpha Investment Partners will be the asset manager upon completion of...
Singapore-based real estate investment house Pacific Star has announced the successful completion of the refinancing programme for Capital Square. The S$549 million facility included S$320 million of senior notes - the largest Singapore dollar corporate bond issue so far this year. The firm said the proceeds from the facility will be used to refinance the existing debt obligations and working capital of...
Australian companies BHP Billiton and Macquarie Group have been confirmed as the newest tenants of Marina Bay Financial Centre (MBFC). Mining firm BHP Billiton and banking giant Macquarie will take up 142,000 and 74,000 sq feet of space respectively in Tower 1 of the office building at downtown Marina, said Raffles Quay Asset Management, which manages MBFC, in a statement. Both firms will take 10-year...