CCT: To purchase office building known as Twenty Anson. Co will acquire 100% of Firstoffice which owns the building from vendors Homerun and LCBC which increase co’s asset portfolio from $6.7b to $6.9b. Twenty Anson is an approx 2-yr old, 20-storey prime office building n Tanjong Pagar. It has a NLA of approx 202.5k sf and a committed occupancy of 100% as at 21 Feb 2012. It is situated on a site with a 99-year leasehold title
that commenced from 23 Nov 2007. The amt of consideration at $446.6m was determined based on the property price of $430.
This purchase will come with CCT setting a yield stabilization fund for approx 5.5% p.a for nxt 3.5 yrs. CCT currently trades at an expected fwd yield of 6.5%