Global real estate firm CBRE Group has disposed off 516,000 units in Singapore-listed Office REIT CapitaCommercial Trust (CCT) (SGX:C61U). The disposal was done at a price of S$1.5734 per unit via a market transaction.

CBRE Group Disposes 516,000 Units of CapitaCommercial Trust
REITs on the Singapore Exchange are seeing a general slump the past week. The Straits Times Index has eased to its lowest close since December 2012. 

However CBRE continues to maintain a 5.96 percent stake in the REIT, down from 6.01 previously. It holds a deemed interest of 171,297,380 units in CCT.

Units of CCT have been have slumped to record lows not seen since October 2012 closing at S$1.54 at the last close. This after reaching a peak of S$1.73 in early May this year. This comes on the back of a general slump on the Singapore Exchange this past week. The Straits Times Index slid for the third straight day in a row to close at its lowest levels since December 31 2013.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.