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German asset manager Union Investment Real Estate has plans to sell VisionCrest, an office building at 103 Penang Road in Singapore.
The sales price is estimated to be $350 million.
The 154,711-square-foot building, located between Dhoby Ghaut and Somerset MRT stations, has 99 percent occupancy. Tenants include Manulife Financial Advisers, Puma Sports SEA Trading, conference organizer IBC Asia, The Coffee Bean & Tea Leaf, and Afton Chemical.
Union Investment Real Estate has appointed CBRE and JLL as exclusive joint advisers to market the asset.
