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Singapore's GIC boosts its stake in alstria office REIT

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Singapore's GIC boosts its stake in alstria office REIT

Singaporeansovereign wealth fund GIC has boosted its stake in German-based to 12.7%, accordingto a company statement.

Alstriaoffice REIT did not specify how much GIC's stake in the company had been beforethe acquisition, but a spokesperson told S&P Global Market Intelligence thatit would have been below 3%.

The newscomes as Oaktree Capital Group reduced its stake in the office-focused investorto 13.4% from 25.4%. Oaktree became a major institutional owner in the company viaan exchange of shares at the time that alstria office REIT acquired its peer DODeutsche Office AG AV in October 2015.