CLSA Capital Partners bags 77 Robinson Road for S$530.8m

Singapore

THINGS have come full circle for CLSA Capital Partners at 77 Robinson Road.

BT understands that it has inked a deal to buy the 35-storey office tower for S$530.8 million or S$1,810 per square foot based on a net lettable area (NLA) of 293,269 square feet.

SEB ImmoInvest fund, the seller, acquired the property from an earlier CLSA-managed fund in April 2007 for S$526 million or S$1,783 psf based on a slightly larger NLA of around 295,000 sq ft for the property at the time.

The earlier CLSA fund made a handsome profit from that transaction, which entailed a holding period of under a year; it had bought the building just 10 months earlier, in June 2006, for S$343.88 million or about S$1,165 psf, from Si…