Allianz: invests in an office block in Singapore
(CercleFinance.com) - Allianz has announced the acquisition of a 20% stake in the Ocean Financial Center (OFC), a 43-storey Class A office tower that occupies a strategic location in Singapore at the intersection of Raffles Place financial district and Marina Bay.
The deal, which amounts to approximately 537.3 million Singapore dollars, or 367 million euros, is expected to be closed in December 2018, the German insurer said.
Keppel REIT currently holds a 99.9% stake in this tower, which houses around 80,000 m2 of class A office space and nearly 1,486 m² of retail space. It currently has an occupancy rate of 95.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The deal, which amounts to approximately 537.3 million Singapore dollars, or 367 million euros, is expected to be closed in December 2018, the German insurer said.
Keppel REIT currently holds a 99.9% stake in this tower, which houses around 80,000 m2 of class A office space and nearly 1,486 m² of retail space. It currently has an occupancy rate of 95.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.