You are here

Keppel Reit divests 20% stake in Ocean Financial Centre to Allianz for S$537.3 million

The agreed purchase price is 16.8% per cent or S$77.1 million higher than the historical purchase price of S$460.2 million

BT_20181201_RWKEPWEB1_3632122.jpg
The property, with its distinctive plant-covered external walls, has a total net lettable area of 877,635 sq ft, and a committed occupancy rate of 95.5% as at Sept 30.

Singapore

KEPPEL Reit is selling a 20 per cent stake in Ocean Financial Centre to Allianz Real Estate for S$537.3 million, but will retain a majority 79.9-per cent interest in the property, its manager Keppel Reit Management said on Friday.

This is the German insurer's property

sentifi.com

Market voices on: