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CCT acquires 94.9% stake in Frankfurt office for $387 mil

By PC Lee

/ The Edge Singapore |

July 17, 2019 1:39 PM SGT

SINGAPORE (July 17): CapitaLand Commercial Trust (CCT) is acquiring a 94.9% stake in Main Airport Center (MAC) in Frankfurt, Germany, for €251.5 million ($387.1 million).

The acquisition marks CCT’s second asset acquisition in Frankfurt and increase CCT’s overseas exposure from 5% to 8% of its portfolio property value.

Located close to Frankfurt Airport and a 20-minute drive to Frankfurt’s Central Business District, MAC is a freehold multi-tenanted office building with a total net lettable area (NLA) of 60,200 sqm.

This article - CCT acquires 94.9% stake in Frankfurt office for $387 mil is originally from TheEdgeSingapore.com

Read also:

Merger to create CapitaLand Integrated Commercial Trust, Asia-Pac's 3rd largest REIT

CMT, CCT propose merger to create largest REIT in Singapore, third largest in Asia Pacific

CapitaLand to acquire Ascendas-Singbridge in $11 bil deal

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