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GSH consortium buys Singapore office for $438m
A partnership between GSH Properties, Vibrant Group and TYJ Group has purchased Equity Plaza in Singapore for S$550 million, or S$2,181 per square foot ($438.5 million/ $1,739 per square foot). The seller is Keppel Land.
CBRE represented the seller.
The new owners have plans to renovate the 22-year-old tower. The joint venture is mainly controlled by GSH, which holds a 51 percent interest, while Vibrant holds 35 percent and TYJ holds 14 percent.
Equity Plaza is a 252,135-square-foot office in Singapore’s financial and central business district. It is 28 stories with street-level retail. The building is 97 percent occupied. Major tenants include Fullerton Healthcare, Australian Visa and Application Center.