CICT and COREF to acquire Singapore’s Grade A office building 79 Robinson Road for S$1.26 billion

News about CapitaLand Integrated Commercial Trust
CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (COREF), a newly established discretionary fund managed by CapitaLand Investment Limited (CLI), are buying 79 Robinson Road, a Grade A office building in the Tanjong Pagar sub-market of Singapore’s central business district (CBD) through acquiring 70% and 30% respectively of the shares of the property holding company, Southernwood Property Pte Ltd (SWP), a special purpose vehicle in which CLI has a 65% stake and a joint venture between wholly owned subsidiaries of Mitsui & Co., Ltd. and Tokyo Tatemono Co., Ltd. holds the remaining 35%. SWP will be converted to a limited liability partnership1 following completion of the acquisition.
...read more on investor.cict.com.sg
CapitaLand Integrated Commercial Trust
Price2.470 SGD
NAV2.090 SGD
Yield (4 quarters)4.69%
Gearing38.5%