KKR has made its initial foray into Singapore’s office market, buying the Twenty Anson tower, from AEW for an undisclosed price – believed to be almost S$600m (€408m).
The 206,163sqft building in Tanjong Pagar precinct tin was completed in 2009. CapitaLand owned the building until it was sold to AEW in 2018 for S$516m.
KKR is making the investment from its Asia-Pacific real estate strategy.
The Singapore CBD office tower is KKR’s latest real estate investment in Asia-Pacific and adds to past investments in key office markets around the region, including South Korea, China and Australia.
Jeremy Chee, principal and KKR’s real estate lead in Southeast Asia, said: “The acquisition of Twenty Anson is aligned with our strategy of pursuing opportunities in Southeast Asia, including in Singapore.”
Tom Lee, managing director of real estate at KKR, said: “We are optimistic about Singapore’s economic growth and the long-term prospects of its office real estate sector. Singapore continues to be a key part of our real estate strategy.”
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