Dentons Rodyk is acting as lead transaction counsel for CapitaLand Commercial Trust Management Limited (Manager of the SGX-listed REIT, CapitaLand Commercial Trust), in the sale of Twenty Anson to an unrelated third party for a sale consideration of S$516 million.

Twenty Anson is a 20-storey office building located in Tanjong Pagar, a sub-market of Singapore’s Central Business District. This is reported to be Singapore’s largest office real estate deal in 2018 to date, with the sale consideration working out to S$2,503 per square foot based on the building’s net lettable area of approximately 206,000 square feet. The transaction is expected to be completed in 3Q 2018.

Completed in 2009, Twenty Anson has a committed occupancy rate of 94.3% as at 31 March 2018, with its top three tenants being Toyota Motor Asia Pacific Pte Ltd, BlackRock Advisors Singapore Pte Ltd, and BCD Travel Asia Pacific Pte Ltd.

The Dentons Rodyk team is led by Real Estate Senior Partner Pat Lynn Leong, Real Estate Senior Associate Lynette Khoo and Real Estate Associate Kehua Tan. They were also assisted by Real Estate Partner Claire Wu.