Tang Organization takes over Suntec REIT manager in 100% stake deal

Acrophyte Asset Management completes the buyout of ESR Trust Management.

Tang Organization has become the new sponsor of Suntec Real Estate Investment Trust following the completion of the acquisition of its manager, ESR Trust Management (Suntec) Limited.

Acrophyte Asset Management Pte. Ltd., a wholly owned subsidiary of the organisation, has acquired a 100% stake in ESR Trust, according to a filing.

The transaction was first announced in December 2025 and approved by the Monetary Authority of Singapore earlier in March.

The manager is now wholly owned by Gordon Tang and Celine Tang

The Tang family collectively holds about 36% of Suntec REIT’s issued units, making it the largest unitholder group.

The group said it will work with the manager to undertake a strategic review of the REIT’s portfolio, focusing on asset optimisation and capital efficiency.

In a separate filing, ESR Trust Management (Suntec) announced the retirement of chairman and non-executive director David Matheson with effect from 17 March, in line with the change in ownership of the manager.

It said there were no unresolved differences between Matheson and the board on material matters.

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ESR Group Limited

Suntec REIT

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