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CapitaLand Commercial Trust to buy Asia Square Tower 2 for $2.15 bil

By Stanislaus Jude Chan

/ The Edge Singapore |

September 21, 2017 2:49 PM SGT

SINGAPORE (Sept 21): CapitaLand Commercial Trust is buying Asia Square Tower 2 from American asset manager BlackRock Inc for $2.15 billion.

The office building is located in Singapore’s Marina Bay financial district. CCT says it plans to fund the acquisition, which will be one of Singapore’s largest real estate deals this year, via a rights issue and bank loans.

BlackRock last year sold Asia Square Tower 1 to sovereign wealth fund Qatar Investment Authority for $3.4 billion.

This story, written by Stanislaus Jude Chan, first appeared on The Edge Singapore.

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