Fundraising - OCTOBER 17, 2019

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Mapletree REIT launches $661m fundraise for Singapore Google campus

by Kali Persall

Mapletree Commercial Trust (MCT), a Singapore-focused REIT, has launched an equity fundraise of S$902.3 million ($661 million) to partially fund its $1.12 billion purchase of a property that houses Google’s Asia Pacific headquarters.

Earlier this month, MCT announced the acquisition of Mapletree Business City (Phase 2/MBC II), adding to its earlier purchase of Phase 1 MBC I) of the property, which the REIT bought in 2016.

MBC II is a high-rise business park development with a 30-story building, featuring extensive sports and recreational facilities in addition to state-of-the-art business facilities and lifestyle amenities. Phase 2 of the Mapletree Business City (MBC) features 1.2 million square feet of business space with grade-A office specifications, just like Phase 1.

With the buy, MCT will have complete ownership of the entire Mapletree Business City Devel

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