Prudential Tower

BlackRock real estate fund has acquired seven strata office units in Prudential Tower for about S$130 million from consortium Epic Land. Prudential Tower is a 30-storey Grade A commercial property in the heart of the Central Business District (CBD). John Saunders, head of Asia-Pacific for BlackRock Real Estate, said: “We are delighted to have acquired strata office floors of Prudential Tower in the...

Epic Land has executed a sale and purchase agreement (SPA) to sell six of its wholly-owned subsidiaries, which hold seven strata office units in Prudential Tower, to an unrelated third party. The sale price will be determined based on the net asset value of the sale companies as at the completion date and will take into consideration the value of the properties, which is about S$130.07 million. The...

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...

K-REIT Asia has increased its stake in Prudential Tower to 93 per cent from 73 per cent. Its trustee RBC Dexia Trust Services entered into a sale and purchase agreement with various parties to acquire levels 26 to 29 of the 30-storey building. This was at a purchase price of about S$125.1 million inclusive of rental support. Excluding the rental support, the effective purchase consideration is about...

K-REIT Asia says it has completed the acquisition of levels 20 to 25 of Prudential Tower located at 30 Cecil Street. K-REIT Asia says it paid $106 million for the property and the acquisition will be funded by a bridging loan facility of up to $110 million from Kephinance Investment. K-REIT Asia says the bridging loan is to be repaid from the net proceeds of the underwritten and renounceable rights issue...