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

The agreed value for the 46-storey Grade A office building, located in Singapore’s Marina Bay financial district, is at $2.09 billion, or $2,689 psf.

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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook