The manager of CapitaLand Commercial Trust (CCT) has given more colour on the REIT’s future acquisition plans, amid revelations of another proposed property purchase in Germany.
The office-focused REIT announced on 17 July that it is acquiring a 94.9% stake in the holding companies of Main Airport Center (MAC) in Frankfurt.
The property will be acquired from CapitaLand Limited, and Lum Chang Holdings Limited, subject to an approval from CCT unitholders that will be sought at an extraordinary general meeting (EGM).
Main Airport Center will be acquired by the REIT for a total acquisition outlay of approximately EUR253.4 million, given the property value of EUR265 million (USD407 million).
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