CapitaLand, Lum Chang buy Frankfurt office building for 234.3m euros in cash
The freehold, multi-tenanted building will be CapitaLand's first office building in Germany, and has an agreed value of 245 million euros
Singapore
A JOINT venture between CapitaLand and Lum Chang Holdings has acquired an office building in Frankfurt for 234.3 million euros (S$375.1 million) in cash.
CapitaLand, a real estate developer, holds 94.9 per cent of the joint venture and paid 222.3 million euros of the consideration. Lum Chang, a construction company, holds the remaining 5.1 per cent.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender