The real estate subsidiary of Singapore-based investment firm Straits Trading Company, Straits Real Estate, has purchased 3.2 million units of office and retail real estate investment trust Suntec REIT (SGX:T82U).
The units were purchased via a market transaction on 3 September for a total price of SGD5,892,992. This translates to about SGD1.84 paid per unit.
According to information provided by the company’s website. Straits Real Estate Private Limited is a real estate investment vehicle that is 89.5% owned by Straits Trading Company.
Units of Suntec REIT are currently listed on the Singapore Exchange at SGD1.815.