Singapore's sovereign wealth fund GIC has become a new major shareholder of Alstria Office REIT with the acquisition of a 12.7% interest in the German office landlord.
GIC is already a major shareholder in German listed property firm TLG Immobilien, in which it bought a stake of over 13% in the summer of last year.
Meanwhile US private equity group Oaktree Capital has reduced its stake in Alstria from 25.4% previously to 13.4% at present. Oaktree became Alstria’s major shareholder through the exchange of shares following the takeover of Deutsche Office AG by Alstria in October 2015.
'We welcome GIC as a substantial shareholder of Alstria, and thank them for their trust in our business,' commented Olivier Elamine, CEO of Alstria. 'Having such a reputable name in the real estate industry joining our shareholder base is a very strong testimony to the strength and expertise that has been developed by our team.'
