KKR makes Singapore office acquisition

SingaporeGlobal private equity firm KKR has completed its first real-estate transaction in Singapore’s financial zone. The acquisition involved Twenty Anson, an office tower in Singapore’s central business district that was built in 2009. The property was sold for a reported SD$600 million (US$440.7 million) by US-based fund manager AEW. “Our acquisition of Twenty Anson is aligned with our strategy of pursuing opportunities in Southeast Asia, including in Singapore that will benefit from long-term tailwinds such as the city-state’s status as a leading destination for corporations’ Asia headquarters, and as Singapore re-opens and stabilises in a post-Covid environment,” said Jeremy Chee, principal and KKR’s real estate lead in Southeast Asia. Chee also referenced the property’s ESG credentials including various ‘green’ certifications. KKR’s portfolio of office properties in the region includes office towers in South Korean capital Seoul; an office in Melbourne, a hotel in Sydney and a mixed-use property in Shanghai. © 2022 funds global asia

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