78 Shenton Way being sold to PGIM Real Estate
It is understood to be paying headline price of nearly S$1,900 psf on NLA, but deal is complex
Add BT as a preferred source
Singapore
US-BASED PGIM Real Estate is understood to have entered into a deal to buy 78 Shenton Way from a fund managed by Alpha Investment Partners.
The headline price for the property, which comprises two office towers, is close to S$1,900 per square foot on net lettable area (NLA) of about 362,000 sq ft, The Business Times understands. This would translate to around S$680 million for the property, which is on a site with a balance lease term of about 64 years.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Is it time to scrap COE categories for cars?
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Former manager with DBS Bank admits cheating 7 victims, including his uncle, of over S$1 million
