You are here

AEW boosts Singapore office exposure

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

BT_20180721_KRVALUE21_3507563.jpg
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 (...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes