| Sovereign wealth fund Qatar Investment Authority (QIA) has acquired a 43-storey office building in Singapore from US private equity firm BlackRock in a $2.45bn deal. The sale of the 1.25 million square feet office tower, Asia Square Tower 1, marks the largest single tower real estate transaction in the Asia Pacific to date and the second largest globally, according to BlackRock.
The agreement between the two parties was reached a year after the US firm first put the building up for sale with an asking price of about $2.9bn. The office tower is located in Singapore’s Marina Bay business and financial district and bears the branding of its anchor tenant, Citibank...............................................Full Article: Source
|