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Report: ARA Asset Management buys Singapore property for S$340M

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Report: ARA Asset Management buys Singapore property for S$340M

ARA Asset Management Ltd. completed its acquisition of the Robinson Center in Singapore for S$340 million, Mingtiandi reported Jan. 2, citing a source close to the deal.

The firm acquired the office building through its ARA Real Estate Partners Asia II fund, the source said.

The 20-story building at 61 Robinson Rd. has a net lettable area of more than 130,000 square feet, with floor-to-ceiling heights of 3.5 meters compared to the usual 3-meter height offered by recent grade A office developments in the central business district, according to a Dec. 30, 2019 release.

As of Jan. 2, US$1 was equivalent to S$1.35.