BlackRock to sell industrial asset in Singapore to AEW
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.