BlackRock to Sell Singapore Office Building to Qatar Investment Authority for $2.45 Billion
June 05 2016 - 10:43PM
Dow Jones News
By P.R. Venkat
SINGAPORE-- Asset manager BlackRock Inc. (BLK) agreed to sell an
office building in Singapore's central business district to
sovereign wealth fund Qatar Investment Authority for US$2.45
billion
The deal is the largest-ever single-tower real estate
transaction in the Asia-Pacific region.
BlackRock, one of the world's largest asset managers with US$4.7
trillion assets under management, had put Asia Square Tower 1 on
the block last year. Citigroup Inc. (C), Google Inc. and
private-equity firm KKR are among its tenants.
The 43-story property comprises more than 1.2 million square
feet of Grade A office space and nearly 40,000 square feet of
retail space, according to a statement from Jones Lang LaSalle and
CBRE Group Inc., which conducted the sale for BlackRock.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
June 05, 2016 22:28 ET (02:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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