S$102.91 million acquisition of 25% stake in Galaxis, Singapore by Ascendas Real Estate Investment Trust
Allen & Gledhill advised Ascendas Funds Management (S) Limited (in its capacity as manager of Ascendas Real Estate Investment Trust) (“Ascendas Reit Manager”), as transaction counsel, on the S$102.91 million sale and purchase agreement between MBK Real Estate Asia Pte Ltd (“MREA”) and HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Ascendas Real Estate Investment Trust)(“Ascendas REIT”) to acquire a 25% stake in Ascendas Fusion 5 Pte Ltd (“AF5PL”) from MREA.
AF5PL is the registered proprietor of a premium business park property located at 1 and 3 Fusionopolis Place, Singapore and known as Galaxis. Galaxis is located in the one-north precinct of Singapore, and is the Singapore hub for infocommunications technologies, media, physical sciences and engineering Research & Development industries.
Advising Ascendas Reit Manager were Allen & Gledhill Partners Jerry Koh, Eudora Tan, Foong Yuen Ping and Shalene Jin.
