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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Keppel completes $298.9m Sunview Way property acquisition

It was bought $3.8m higher than the original price.

Keppel DC Reit acquired 13 Sunview Way worth $298.9 by majority stakes through its acquisition of Kingsland Data Center’s (KDCPL) 99% interest. JTC has given approval for conversion of the property, the announcement revealed.

According to an earlier announcement, the new acquisition will cater to the multinational demand for data centre space.

The transaction also turned KDCPL into a limited liability partnership whilst Kingsland and its trustees will be partners of Keppel DC REIT. The property’s employees and contracts have also been transferred to Keppel’s facility manager.

Keppel also completed the acquisition of a 999-year leasehold land interest in a property in Naas Road, Dublin, Ireland through a partial sum of net proceeds raised from a non-renounceable preferential offering of 241,988,877 new units launched in October 2016.

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