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Transactions - FEBRUARY 22, 2021

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BlackRock to sell industrial asset in Singapore to AEW

by Kali Persall

BlackRock is planning the sale of Admirax, a seven-story light industrial asset in Singapore, to AEW, sources with knowledge of the matter told Mingtiandi.

The deal is expected to fetch S$142 million ($107.3 million).

BlackRock acquired the building from Ascendas-Singbridge in April 2018 for S$106 million ($80 million).

The property totals 469,150 square feet of net leasable area and has received improvements to its public areas under BackRock’s ownership.

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