Singapore-based Keppel REIT, a real estate investment trust company, has completed the sale of Bugis Junction Towers, a premier office building in the country.
Located at 230 Victoria St., the 100 percent occupied Bugis Junction Towers sits within the Bugis Junction integrated mixed-use development and has a 99-year leasehold land tenure that expires in 2089.
Keppel REIT sold the property to U.S. alternative investment firm Angelo Gordon and Singaporean real estate investment firm TCRE Partners, which together are dubbed Village Prop Pte Ltd.
Angelo Gordon and TCRE Partners purchased the nearly 250,000-square-foot Bugis Junction Towers for a total purchase price of $396 million.