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CCT acquires second property in Frankfurt

To partially fund the purchase, it will place out new units at between S$2.043 and S$2.105 apiece to raise about $220 million; CCT's Q2 DPU is up 1.9% at 2.2 Singapore cents

Published Wed, Jul 17, 2019 · 09:50 PM

Singapore

CAPITALAND Commercial Trust (CCT) continues to deepen its presence in Frankfurt with the acquisition of a freehold office building - its second investment in the German metropolis under two years.

The Reit manager on Wednesday announced that it will acquire an effective 94.9 per cent interest in the holding companies of Main Airport Center (MAC) in Frankfurt from its sponsor CapitaLand and mainboard-listed property and construction group Lum Chang Holdings.

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