CapitaLand Commercial Trust’s purchase of Marina Bay building seen as sign of recovery in office market – Annabeth Leow (The Straits Times Sept 22, 2017)
CapitaLand Commercial Trust has scooped this year’s biggest office real estate transaction by sale price after it announced a deal yesterday for Marina Bay’s prime Asia Square Tower 2.
It will fork out $2.09 billion to take the 46-floor office block off the hands of private equity giant BlackRock, in a deal that signals the recovery of Singapore’s commercial property market, industry watchers said.
The sale will yield $2,689 per sq ft (psf) for the building, which is 10 years into its 99-year lease.
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