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Mapletree targets $1.36bn for Singapore real estate investment trust

15 Feb 2013

Asia-focused real estate investor Mapletree Investments is looking to raise around $1.36bn for its Mapletree Greater China Commercial Trust, a Singapore-listed real estate investment trust targeting income-producing real estate in the Greater China region.

The trust is managed through Mapletree’s Mapletree Greater China Commercial Trust Management and will focus on commercial real estate, including retail and office space.

The proceeds will be used to acquire Festival Walk, a retail, office and lifestyle destination located inKowloon Tong, Hong Kong; and Gateway Plaza, an office building located in the Lufthansa Area in Beijing.

Investors including Norges Bank Investment Management, Temasek, AIA Group, CBRE Group, CBG, Henderson Global Investors and Morgan Stanley have all commited to acquire units, Mapletree said.

The firm owns and manages close to S$20.5bn ($16.6bn) of office, logistics, industrial, residential and retail/lifestyle properties situated across Asia. It manages three Singapore-listed REITs and three private equity real estate funds.

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