Sun Venture has acquired the 13-storey Robinson Road 71 office building in Singapore from Commerz Real fund for S$655m (€429m).
Commerz Real’s open-ended real estate fund HausInvest sold the fully-leased 22,000sqm building to SV Robinson, a member of Sun Venture group of companies.
Commerz Real acquired the then Robinson Road 71 project development in 2008 for its fund.
Henning Koch, global head of transaction management at Commerz Real, said: “We have utilised the market and leasing situation to attain an extremely attractive market price for our investors.
“Asia remains an interesting market for new acquisitions for HausInvest.”