Suntec REIT's flagship property in Singapore, Suntec City. (Photo: REITsWeek)Suntec REIT's flagship property in Singapore, Suntec City. (Photo: REITsWeek)

US-based wealth management firm BlackRock Inc has indirectly sold of 949,100 units of Singapore-listed retail and office REIT, Suntec REIT(SGX:T82U), a filing made on the Singapore Exchange on 10 March has revealed.

The units were disposed through a market transaction on 8 March via its subsidiaries. Total consideration received for the units was SGD 1,569,706, translating to about SGD1.65 received per unit.

With the disposal, BlackRock now has a deemed interest in 151,477,288 units of Suntec REIT, representing a stake of about 5.99%.

Units of Suntec REIT finished the trading day 1.52% higher from its previous close on the Singapore Exchange to end at SGD1.66.

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.