Mapletree Investments to sell eight-story office building in Singapore to Keppel Education Asset Fund | News
Mapletree Investments has agreed to sell an eight-story suburban office building to the Keppel Education Asset Fund (KEAF), a pan-Asia value-added education real estate fund, for S$160 million ($118.6 million).
The office asset is located at 20 Harbour Drive in western Singapore’s Pasir Panjang area. The property sits on a 138,835-square-foot site and has an existing gross floor area of nearly 250,000 square feet, with the potential for increase, according to The Business Times, which reported KEAF has been exploring the possibility of converting 20 Harbour Drive into an international school campus.
Also known as PSA Vista, the building is currently occupied in part by PSA Institute, a training provider for skilled workers in Singapore’s port and terminal industries, according to Mingtiandi. The deal values the property, which has 144,236 square feet of net lettable area, at S$1,109 ($822) per square foot.
A fully owned unit of Mapletree In
