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TripleOne Somerset (formerly Singapore Power Building)
Address
111 Somerset Road
Location
Adjacent to Singapore’s prime shopping Orchard Road belt near Ngee Ann City and next to the Somerset MRT station.
Please click here for more information. |
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Wisma Atria
Address
435 Orchard Road
Location
Located in the heart of Singapore’s main shopping, hotel and tourist belt at Orchard Road, sandwiched between Ngee Ann City and the Orchard MRT station. |
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| Description |
Wisma Atria comprises a Grade A office tower and 5-level shopping mall with a lettable area of 224,000 sq ft. |
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| Investment Strategy |
The acquisition of about 74% of the property was completed in May 2002 for
SGD451 million via an asset securitisation deal with an annual tax-free coupon of 8.85%. After an extensive asset repositioning exercise, the investment was injected into the Macquarie Prime REIT in September 2005 for SGD663 million. |
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Ngee Ann City
Address
391 Orchard Road
Location
Located in the heart of Singapore’s main shopping, hotel and tourist belt at Orchard Road, with an underground link to the Orchard MRT station. |
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| Description |
Ngee Ann City is a 8-storey shopping podium flanked by two 27-storey office blocks, with a lettable area of 256,800 sq ft for retail and 140,900 for office space. Tenants include international fashion brands and luxury merchandise retailers such as Tiffany’s, Prada, Louis Vuitton and Cartier. Takashimaya Shopping Centre is the anchor tenant. |
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| Investment Strategy |
Approximately 27% of the property was acquired for SGD560 million in August 2003 via an asset securitisation deal that paid an annual tax-free coupon of 7.5%. The property was injected into Macquarie Prime REIT in September 2005 for SGD640 million. |
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Capital Square
Address
21, 23, 25 Church Street
Location
A 3 minutes walk from the Raffles Place MRT interchange station in the heart of the Central Business District (CBD). |
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| Description |
Capital Square is a prominent prime Grade A+ commercial development comprising a 16-storey main office tower and two rows of conservation shophouses. It has a net lettable area of about 386,525 sq ft, with column-free floor plates of up to 30,000 sq ft in the office tower. Major tenants include global financial institutions such as Aberdeen Asset Management Asia, Barclays Capital Services, Bloomberg, Citibank, Macquarie Capital and Morgan Stanley (Capital) Singapore.
| The property has been awarded Green Mark certification by Singapores Building and Construction Authority in 2009. This national award gives recognition to environment-friendly buildings which incorporates internationally recognized best practices in environmental design and performance. |
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| Divestment Strategy |
Capital Square was divested in March 2011, following a decade of proactive asset management. It went on to achieve a solid IRR of 30% amidst challenging market environments. |
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| Related Materials |
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| 20 March 2011 |
Meag-Pacific Star Managed Capital Square Fetches S$889 Million in Biggest Office Deal Year to Date |
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One George Street
Address
1 George Street
Country
Singapore
Location
Located in the Central Business District (CBD) minutes away from Raffles Place MRT interchange |
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| Description |
The One George Street site was redeveloped into a Grade A office building with a gross floor area (GFA) of 560,000 sq ft. The property was acquired via the Eureka Office Fund as a direct investment. |
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| Investment Strategy |
The property was acquired via the Eureka Office Fund as a direct investment. The Eureka Office Fund marked the first Asian property investment for German insurer ERGO, which earned an IRR of 39.7% when it was divested from the fund in August 2007. |
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| Divestment Strategy |
The property was a 50-50 joint venture between ERGO and Capitaland. ERGO has completely divested its stake in Eureka Office Fund by August 2007 at an IRR of 39.7% |
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Temasek Tower (now 8 Shenton Way)
Address
8 Shenton Way
Country
Singapore
Location
Singapore's prime financial and commercial district of Shenton Way with direct underground link to the Tanjong Pagar MRT Station. Tenants include financial institutions, multinational companies, government institutions and service companies. |
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| Description |
Temasek Tower is a 51-storey Grade A landmark office tower with a gross floor area (GFA) of 669,473 sq ft. |
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| Investment Strategy |
The property was acquired via the Eureka Office Fund as a direct investment. The Eureka Office Fund marked the first Asian property investment for German insurer ERGO, which earned an IRR of 39.7% when it was divested from the fund in August 2007. |
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| Divestment Strategy |
The property was a 50-50 joint venture between ERGO and Capitaland. ERGO has completely divested its stake in Eureka Office Fund by August 2007 at an IRR of 39.7% |
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The Adelphi
Address
1 Coleman Street
Country
Singapore
Location
Proximity to the City Hall MRT interchange and Supreme Court, 5 minutes to CBD. |
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| Description |
The Adelphi is a 10-storey office-cum-retail complex with a net saleable area of 220,000 sq ft. |
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| Investment Strategy |
The property was acquired via the Eureka Office Fund as a direct investment. The Eureka Office Fund marked the first Asian property investment for German insurer ERGO, when it divested from the fund in August 2007. |
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| Divestment Strategy |
The property was a 50-50 joint venture between ERGO and Capitaland. ERGO has completely divested its stake in Eureka Office Fund by August 2007 at an IRR of 39.7% |
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