Elevate Capital and PGIM Real Estate complete $132 mil acquisition of Stamford Court

SingLand first released the sale of its 100% interest in completely owned branch UIC Land, that manages Stamford Court, in August.

Other close-by landmarks include the Singapore Management College, the National Museum of Singapore and St Andrew’s Cathedral. The real estate is also a 10-minute ride away from the CBD and the Orchard Roadway e-commerce belt.

” As our maiden assets, Stamford Court provides the potential to showcase our capability in re-imagining traditional uses of realty,” states Ashish Manchharam, supervising partner of Elevate Capital Group, in an Oct 24 news release.

Following the acquisition, the shared effort plans to change the business property right into a mixed-use property development with dwelling, co-working, and living style parts.

Found in Singapore’s midtown central, Stamford Court is located within walking distance of 3 MRT terminals– Bras Basah on the Circle Line, City Hall Interchange on the East-West and North-South Lines, and Bencoolen on the Downtown Line.

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Fiona Cho, chief running expert and higher account manager at PGIM Real Estate, adds in: “As the global realty industry achieves an inflection point, investors are looking to re-enter the marketplace in search of value-add possibilities with strong income opportunity.

Spark61, a shared venture involving Singapore-based real estate investment firm Elevate Capital Group and PGIM Realty– the estate purchase arm of global investment administrator PGIM– has actually completed its $132 million purchase of Stamford Court from Singapore Land Group (SingLand).

” Stamford Court’s important area and excellent connectivity provide substantial potential for its modification into a vivid, innovative hub.”

Stamford Court is a four-storey commercial establishment with 62,900 sq ft of net lettable area situated at 61 Stamford Roadway. It today functions as an office space with ground-floor retail store units. Completed in 1996, the building has a 99-year rent from 1994.


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