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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

BlackRock agrees to sell Singapore office tower to Qatar fund for $2.5 billion

Posted on 06 June 2016

BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region.
Asia Square Tower 1, located in the city-state’s financial district, has over 1.25 million square feet of net lettable area and has Citigroup Inc as its anchor tenant, BlackRock and Qatar Investment Authority said in a joint statement. BlackRock was advised by real estate consultant firms JLL and CBRE………………………………………..Full Article: Source


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