Keppel REIT's Ocean Financial Centre, in which a stake was sold to Allianz Real Estate in 2018. (Photo: REITsWeek)

Singapore-listed office-focused REIT, Keppel REIT, has sold a 20% stake in Ocean Financial Centre to Allianz Real Estate.

The divestment will be effected via a sale in the stake of Ocean Properties LP, a subsidiary of the REIT that holds the property.

Ocean Financial Centre is a 43-storey Class A office building located in the heart of Singapore’s CBD, and was first acquired by Keppel REIT in December 2011.

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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.