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Keppel Reit inks deal to sell Bugis Junction Towers

Trust agrees to divest its strata ownership of the building to Village Prop for S$547.5m; that's S$388m more than the S$159.5m it paid for the property in 2006

Published Tue, Oct 1, 2019 · 09:50 PM

keppel reit

Singapore

KEPPEL Reit is reaping a tidy profit from its investment in Bugis Junction Towers.

The Reit (real estate investment trust) has agreed to sell its strata ownership of Bugis Junction Towers to Village Prop for S$547.5 million. That's S$388 million more than the S$159.5 million it paid in 2006.

The Business Times understands the backer of Village Prop is a fund managed by Angelo Gordon, a US-headquartered global alternative investment manager.

Alongside the fund, Singapore-based property investment manager TCRE Partners is expe…

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