DGAP-News: SEB Asset Management sells office building in Singapore
(firmenpresse) - DGAP-News: SEB Asset Management / Key word(s): Real Estate/Disposal
SEB Asset Management sells office building in Singapore
21.02.2013 / 15:00
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SEB Asset Management sold its share in the 23-storey '79 Anson Road' office
building in Singapore to United Engineers Developments Pte. Ltd. In
December 2007 SEB Asset Management acquired twelve strata titled storeys of
the building with total office space of approximately 10,350 sqm for SEB
Asian Property Fund, its Luxembourg-registered special real estate fund.
Its share comprised approximately 54% of the Grade A building. The selling
price was the equivalent of EUR 136.6 million, 16% above appraisal value.
'Singapore recovered very quickly from the financial crisis. With the sale
of 79 Anson Road we profit from the high demand for core properties
currently seen on the Singaporean market,' says Choy-Soon Chua, Managing
Director, responsible for real estate investment at SEB Asset Management.
'Together with the second partial owner, we decided to sell the property
jointly in order to achieve the highest possible selling price.'
Formerly known as 'Phoenix Tower', the 79 Anson Road building is located in
Singapore's central business district (CBD), Tanjong Pagar. The property
was built in 1992 and its lobby and lift area were given a thorough
facelift in 2010. Temporarily vacant space could be fully let to new
tenants.
After entering the market in 2006, SEB Asset Management currently manages
13 properties in the Asia-Pacific region worth approximately EUR 1.38
billion from its office in Singapore. 'We will continuously develop and
actively manage our Asian property portfolio,' adds Chua.
Alongside the SEB Asian Property Fund, which was launched in August 2007,
SEB Asset Management offers three other vehicles focussing on the Asian
real estate market: SEB Asia REI is aimed primarily at German institutional
investors and pursues a core/core plus strategy, while SEB Asian Property
II's core plus/value added approach targets international institutional
investors and high net worth individuals. The SEB Asia Pacific REIT Fund
allows institutional and private investors to invest in REITs (real estate
investment trusts) in the Asia-Pacific region.
Press contact
SEB Asset Management
Brigitte Schroll, Head of Communications
Phone: +49 69 27299-1502
E-Mail: presse(at)sebam.de
Twitter: twitter.com/seb_am
SEB Asset Management
Karolin Jäger, Press Officer
Phone: +49 69 27299-1503
E-Mail: presse(at)sebam.de
Twitter: twitter.com/seb_am
SEB Group
SEB is a leading Nordic financial services group. As a relationship bank,
SEB in Sweden and the Baltic countries offers financial advice and a wide
range of other financial services. In Denmark, Finland, Norway and Germany
the bank's operations have a strong focus on corporate and investment
banking based on a full-service offering to corporate and institutional
clients. The international nature of SEB's business is reflected in its
presence in 20 countries worldwide. On 31 December 2012, the Group's total
assets amounted to SEK 2,453 billion (~EUR 286 bn) while its assets under
management totalled SEK 1,328 billion (~EUR 155 bn). The Group has around
16,500 employees. Read more about SEB at www.sebgroup.com.
SEB Asset Management Germany
SEB Asset Management (SEB AM), Frankfurt, is the SEB Group's specialist
investment house in Germany for actively managed securities and real estate
investment funds. As part of the Group's Wealth Management division, which
comprises over 1.000 employees and has SEK 1,228 billion (around EUR 143
bn) in assets under management, SEB AM offers global expertise in
traditional and innovative asset classes and various investment styles. Its
investment strategy features active management in small, specialist
investment teams. By combining global and local knowledge, SEB offers
institutional and retail clients investment solutions with a broad range of
risk/return profiles.
In Germany, the fund management company has a clearly structured offering
comprising mutual and special funds complemented by client-specific
investment solutions and asset management mandates. As part of SEB's
international network, SEB AM has positioned itself as a specialist for
global real estate management and risk-adjusted investment concepts for
European bonds, multi-assets strategies and European value shares. SEB AM
has been one of the leading real estate fund managers for many years. Since
2005, it has had an M2 Real Estate Manager rating from Fitch.
End of financial news
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202026 21.02.2013
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Unternehmensinformation / Kurzprofil:
Datum: 21.02.2013 - 15:00 Uhr
Sprache: Deutsch
News-ID 231885
Anzahl Zeichen: 26
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Kategorie:
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