BlackRock sells Singapore office tower to CapitaLand for US$1.5bil


SINGAPORE: CapitaLand Commercial Trust, Singapore’s biggest office landlord, agreed to buy BlackRock Inc’s Asia Square Tower 2 for US$1.5bil (RM6.5bil) in the city’s second largest ever sale of an office building.

The transaction will be partially funded by a rights issue of about S$700mil and bank borrowings of about S$1.12bil, CapitaLand Commercial Trust said in a statement. The company said divestment proceeds of about S$340.1mil from previous property deals will also help fund the purchase.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , cct

   

Next In Business News

Bank of England cuts rates but sees higher inflation after Reeves' budget
Tengku Zafrul: Malaysia secures potential exports to China worth RM3.2bil
Malaysia ready for new investment era with clear economic vision - MoF
Microlink wins RM83.5mil project from Home Affairs Ministry
Ringgit marginally lower against US dollar at the close
TWL Holdings secures RM42.5mil banking facility from UOB Malaysia
Ekovest's Lim is said to consider sale of toll roads for RM5bil
Sunway Malls projects 5% growth for 2024
Pentamaster 3Q net profit halves to RM11.8mil
Metro Healthcare’s 156.63 mln IPO shares for public oversubscribed by 38.60 times

Others Also Read