Acquisition represents the fourteenth asset for the strategy, bringing the total AUM of the pan Asia-Pacific portfolio to over US$1 billion.
Nuveen Real Estate, one of the world’s largest investment managers, has acquired a 50% interest in One George Street, a Grade A office asset in the Raffles Place precinct of Singapore, for c. US$472 million on behalf of its Asia Pacific Cities vehicle.
The Grade A office was completed in 2004, featuring large, highly efficient, and column-free floor plates of 30,000 sq ft, and a high floor ceiling height of three meters which provide ample flexibility for single or multitenant use. The property has existing green credentials in the form of the Green Mark GoldPlus award, a green building rating administered by the Building and Construction Authority (BCA) in Singapore. It is also complemented by tenant amenities, including flexible working space, a fitness center with swimming pool and beverage outlets.
You can now read the full press release at the link below