SINGAPORE (Nov 21): Ascendas-Singbridge Group, the urban development & business space solutions provider, says subsidiary Ascendas Asset Management launched its fifth office fund in South Korea on Sept 28.

Named Ascendas Korea Office Qualified Real Estate Investment Trust No. 5 (AKOPREIT5), the REIT is a 10-year closed private fund with an equity of $39.6 million.

It currently holds ICON Yeoksam, a new mid-sized office building located in the Gangnam Business District (GBD) of Seoul.

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