Keppel Reit has sold Bugis Junction Towers to Village Prop Pte Ltd for S$547.5 million or S$2,200 per square foot, S$388 million more than the S$159.5 million the property was acquired for in 2006. The Business Times understands the main buyer is a fund managed by Angelo Gordon, a US-headquartered global alternative investment manager. Alongside the fund, Singapore-based property investment manager...
Keppel Reit is selling a 20 per cent stake in Ocean Financial Centre to Allianz Real Estate for S$537.3 million, but will retain a majority 79.9-per cent interest in the property, its manager Keppel Reit Management said on Friday. This is the German insurer’s property investment arm’s first core office investment in Singapore. Independent valuer Cushman and Wakefield VHS had valued the property...
Keppel REIT will buy a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for S$1.25 billion from Keppel Land, in one of the largest property market deals this year. The price, which works out to around S$2,790 per square foot, is based on independent valuations by property consultancies Cushman & Wakefield and Savills. Keppel REIT will pay for the property through a mix of cash and new units...
Prudential Tower will soon have new owners. Keppel REIT said on Thursday it has entered into agreements to sell its 92.8 per cent stake in the 30-storey office building near Raffles Place MRT station for S$512 million -- which is 4.5 per cent above valuation. The buyers of Prudential Tower are companies held by KOP Ltd, Lian Beng Group, KSH Holdings and Centurion Global. Keppel REIT said in a...
Keppel REIT, the second-biggest office property trust in Asia excluding Japan, is seeking buyers for its 30-storey Prudential Tower in Singapore’s financial district, Bloomberg News reported on Monday, citing two people familiar with the matter. Keppel REIT owns a 92.8 per cent stake in the tower, which was valued at S$490 million as of Dec 31 by independent valuers, according to the company’s...
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