Deals
BlackRock Sells Singapore Office Tower for $1.5 Billion
- CapitaLand Commercial Agrees to Buy Asia Square Tower 2
- Qatar sovereign wealth fund bought adjacent building last year
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CapitaLand Commercial Trust, Singapore’s biggest office landlord, agreed to buy BlackRock Inc.’s Asia Square Tower 2 for S$2.1 billion ($1.5 billion) 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$700 million and bank borrowings of about S$1.12 billion, CapitaLand Commercial Trust said in a statement. The company said divestment proceeds of about S$340.1 million from previous property deals will also help fund the purchase.