Advertisement

CapitaLand Commercial Trust to buy Asia Square Tower 2 for $2.15 bil

SINGAPORE (Sept 21): CapitaLand Commercial Trust is buying Asia Square Tower 2 from American asset manager BlackRock Inc for $2.15 billion.

The office building is located in Singapore’s Marina Bay financial district. CCT says it plans to fund the acquisition, which will be one of Singapore’s largest real estate deals this year, via a rights issue and bank loans.

BlackRock last year sold Asia Square Tower 1 to sovereign wealth fund Qatar Investment Authority for $3.4 billion.

This story, written by Stanislaus Jude Chan, first appeared on The Edge Singapore.

Related Articles From EdgeProp.sg
Property market could spring to life in Oct
Asia Square Tower 2 acquisition seen by analysts as mostly positive for CCT
GIC acquiring 51% stake in Sheraton Grande Tokyo Bay Hotel for $612 mil
Adjoining South Bridge Road shophouses for sale at $28 mil