news

Allen & Gledhill has advised CapitaLand Integrated Commercial Trust Management (CICT) as one of the two sellers of Singapore office building One George Street for S$1.28 billion ($950 million) to a joint venture between JP Morgan Asset Management and Nuveen Real Estate, with Rajah & Tann representing the purchasers.

CICT owned 50 percent of the building, with the rest owned by insurer FWD Group.

One George Street was originally developed by CapitaLand and German insurer ERGO. The joint venture sold the property in 2008 for S$1.17 billion to CapitaLand Commercial Trust, which last year merged with CapitaLand Mall Trust to become CICT, said property website Mingtiandi.

The Allen & Gledhill team was led by partners Eudora Tan and Teh Hoe Yue. Meanwhile, the Rajah & Tann team was led by partners Norman Ho, Ng Sey Ming, Tan Mui Hui, Gazalle Mok, and Ho Mei Shi.

Related Articles

Features

Q&A: ‘We have long seen the importance of having on-the-ground legal experts’

by Sarah Wong |

Over the past few months, Singapore’s Allen & Gledhill has declared its intention to keep expanding regionally through the opening of a rep office in Shanghai and the launch of a new alliance in Indonesia.

Deals

Milbank, A&G advise Philippines’ Hotel101 Global on $2.3 bln SPAC merger

by Sarah Wong |

U.S. law firm Milbank and Singapore’s Allen & Gledhill have advised Hotel101 Global, the hotel arm of Philippines-listed real estate firm DoubleDragon, on its $2.3 billion proposed Nasdaq listing through a SPAC merger.

Deals

Cleary, A&G advise Japan’s Mitsui on $360 mln Ecuador shrimp deal

by Sarah Wong |

U.S. law firm Cleary Gottlieb Steen & Hamilton, Singapore’s Allen & Gledhill and two Ecuadorian firms have advised Japanese trading house Mitsui & Co on its $360 million investment in an Ecuadoran shrimp farming company.