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Singapore's Ascendas-Singbridge enters US with 33-asset office portfolio buy

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Singapore's Ascendas-Singbridge enters US with 33-asset office portfolio buy

Singapore-based business space solutions provider Ascendas-Singbridge Pte. Ltd. carried out its maiden investment in the U.S. real estate market with the acquisition of a portfolio comprising 33 prime office properties in three cities.

The financial details of the deal were not disclosed. The purchase involves a total net lettable area of approximately 3.3 million square feet across Portland, Ore.; Raleigh, N.C.; and San Diego, with tenants including Nike and Oracle.

Ascendas-Singbridge is also opening an office in San Francisco to support its expansion in the U.S. by offering asset management, business development and other related services, according to a release.