SMFL MIRAI Partners, Kenedix and ARA jointly invest in 50% interest in Singapore commercial building through an ARA-managed fund
SMFL MIRAI Partners Co., a consolidated subsidiary of Sumitomo Mitsui Finance and Leasing Company; Kenedix; and fund manager ARA Asset Management, an ESR company, have jointly invested in a second property in Singapore through an ARA-managed fund.
The investment is for 50 percent interest in Lazada One, a commercial building situated in the vibrant Bras Basah precinct, a prominent arts, education and cultural district that has also become a popular corporate user location. Centrally located, Lazada One is adjacent to two subway stations. For these reasons, some of its principal tenants are leading ecommerce companies, IT firms such as streaming services providers, and major operators of co-working spaces.
With it superior investment management track record in the property market in the Asia Pacific region, ARA undertook a large-scale asset enhancement initiative to incorporate sustainability features and transform the building into an environmentally friendly property