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AEW boosts Singapore office exposure

US-based group is buyer of 55 Market Street; analysts say it may be planning strata sales, refurbishment

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55 Market Street is a stone's throw away from Raffles Place MRT Station. AEW's acquisition price works out to just 1.7% implied annualised NPI yield.

Singapore

AEW is increasing its presence in the Singapore office market. The US-based global institutional property investment manager is understood to be the buyer of 55 Market Street in the traditional Raffles Place financial district.

Last week, vendor Frasers Commercial Trust (

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