Ascendas Reit acquiring One@Changi City for S$420m

Singapore

ASCENDAS Real Estate Investment Trust (A-Reit) is acquiring One@Changi City, a property at Changi Business Park, for S$420 million.

The vendor is Ascendas Frasers Pte Ltd, a 50/50 joint venture between Frasers Centrepoint Ltd and A-Reit's controlling unitholder Ascendas Pte Ltd (APL). APL is also the controlling shareholder of Ascendas Funds Management (S) Limited, the manager of A-Reit.

Including acquisition fee of S$4.2 million (payable to the manager in the…