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

Property investment company ARA Real Estate Investors XII Limited has acquired 1,680,000 units of Singapore-listed retail and office REIT, Suntec REIT.

The units were acquired on 23 June for a total consideration of SGD2,812,948.40, which translates to about SGD1.67 paid per unit.

The units were acquired via a market transaction, according to a disclosure filed with the Singapore Exchange on 27 June.

ARA Real Estate Investors XII is a related company of the REIT’s manager, ARA Asset Management Limited.

Units of Suntec REIT finished about 1% higher from its previous close on the Singapore Exchange to finish at SGD1.67.

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.