Global investment firm CBRE Clarion Securities has disposed 1,445,755 units in Singapore-listed Office REIT CapitaCommercial Trust. This was revealed in a filing with the Singapore exchange. The disposal which took place last 21 June 2013 effectively brings down CBRE Clarion Securities' stake in the REIT from 6.02 percent to 5.97 percent.
|CapitaCommercial Trust currently holds a portfolio of 20 commercial properties in Singapore and Malaysia.|
The units were disposed off at a price of S$1.47. Units of CCT are currently trading up 1.4 percent from its previous close at S$1.44 on the Singapore Exchange.
CBRE Clarion Securities is the listed equity management arm of CBRE Global Investors, an industry-leading real estate investment management firm founded in the United States. The firm specializes in the investment of listed real estate securities for individual and institutional investors. With the disposal, CBRE Clarion Securities maintain a stake of 171.5 million units in CCT.
Singapore REITs have seen significant corrections over the past couple of weeks with the FTSE ST Real Estate Index, largely seen as a barometer of Singapore-listed REITs, rolled back to levels not seen since October 2012.