CCT Disposes of Twenty Anson for SGD 516 Million; FVE Unchanged at SGD 1.70
CapitaLand Commercial Trust, or CCT, has announced the sale of Twenty Anson, a 20-story office building in Tanjong Pagar, at the fringe of Singapore’s central business district, or CBD, for SGD 516 million. The sale is expected to be completed in third-quarter 2018. The selling price represents a 19% premium from its valuation of SGD 433 million as of Dec. 31, 2017. Management expects to use the proceeds to repay debt and fund growth opportunities. We do not expect huge changes to its distributi...CapitaCommercial Trust is a commercial real estate investment trust investing in properties predominantly used for commercial purposes. Through its subsidiary, Co. is engaged in the provision of treasury services, including lending to the Trust the proceeds from issuance of notes under an unsecured multicurrency medium term note program. As of Dec 31 2011, Co.'s portfolio comprised of nine properties including three office buildings, one prime office building, three mixed-use properties, one multi-story car park and an ongoing development for a new office tower, all of which are located in Singapore.
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