News about Frasers Centrepoint Trust —
Frasers Centrepoint Trust is increasing its stake in the PGIM Real Estate Asia Retail Fund (ARF), buying a 12.07% participation for S$197.2 million. The trust now owns 24.82% of the fund.
ARF is an open-end private-investment vehicle set up as a company, and the largest non-listed retail mall fund in Singapore. It owns five retail malls near MRT stations (Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1) and an office property (Central Plaza) in Singapore, and one retail mall in Malaysia.
The acquisition is to be funded by debt.