Singapore’s Largest REIT Buys Out Office Tower for $815 Million

Singapore’s largest real estate investment trust is buying the rest of a prime office tower that houses the likes of JPMorgan Chase & Co., for S$1.05 billion ($815 million).

CapitaLand Integrated Commercial Trust, which already owns 45% of the commercial component of the CapitaSpring building, agreed with the private development arm of CapitaLand Group and Mitsubishi Estate Co. to buy out their respective 45% and 10% interests, according to exchange filings Tuesday. Both the REIT and CapitaLand Development are backed by Singapore state investor Temasek Holdings Pte.