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KKR announced the acquisition of Twenty Anson, a prime-grade office building in Singapore's central business district, marking its first real estate office investment in the region. The 206,163-square-foot property is recognized for its strong ESG credentials and strategic location amid new developments. KKR aims to capitalize on Singapore's recovery and long-term growth in office real estate, driven by favorable macroeconomic conditions and government policies. This investment aligns with KKR’s Asia Pacific real estate strategy and underscores confidence in sustainable urban development.
Positive
First real estate office investment in Singapore, enhancing KKR's portfolio.
The acquisition reflects confidence in Singapore's economic recovery and office market prospects.
Twenty Anson's strong ESG credentials align with rising tenant demand for sustainable properties.
Strategically located in Tanjong Pagar, an area undergoing significant development.
Negative
None.
Transaction marks KKR’s first real estate office investment in Singapore
SINGAPORE--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced the completion of KKR’s acquisition of Twenty Anson, a prime-grade office building in Singapore’s central business district (CBD). The transaction marks KKR’s first real estate office investment in Singapore, and reflects KKR’s confidence in Singapore’s position as a leading regional financial hub and the long-term prospects of its office real estate market.
Completed in 2009, Twenty Anson is a 206,163-square-foot commercial building in the heart of the Tanjong Pagar precinct and part of Singapore’s CBD. The building sits at the nexus of multiple new office, hotel and retail, and residential developments, and is situated near public transportation networks. The prime-grade asset is also recognized for its Environmental, Social, and Governance (ESG) credentials, having attained both LEED Certified Gold and the BCA Green Mark Platinum certifications.
Jeremy Chee, Principal and KKR’s real estate lead in Southeast Asia, said, “Our acquisition of Twenty Anson is aligned with our strategy of pursuing opportunities in Southeast Asia, including in Singapore that will benefit from long-term tailwinds such as the city-state’s status as a leading destination for corporations’ Asia headquarters, and as Singapore re-opens and stabilizes in a post-COVID environment. We are also attracted by Twenty Anson’s strong ESG credentials, which tenants increasingly seek and complements KKR’s global expertise in ESG.”
In Singapore and Southeast Asia, KKR continues to be confident about commercial real estate opportunities on the back of market trends and strengthening macroeconomic tailwinds. Sustainable real estate is also a focus, given the region’s growing emphasis on sustainable cities and as urbanization continues to drive development.
Tom Lee, Managing Director of Real Estate at KKR, added, “We are excited to make our first real estate office investment in Singapore with Twenty Anson, a high-quality asset strategically located in the up-and-coming Tanjong Pagar precinct. We are optimistic about Singapore’s economic growth and the long-term prospects of its office real estate sector, buoyed by the country’s strong recovery from the pandemic, macro tailwinds, and supportive government policy. Singapore continues to be a key part of our real estate strategy.”
KKR is making its investment from its Asia Pacific real estate strategy. Twenty Anson is KKR’s latest real estate investment in Asia Pacific and adds to past investments in key markets around the region, including Namsan Square, an office tower located in Seoul’s CBD, K Twin Towers, two prime office towers in Seoul’s CBD, World Trade Center, an office complex in Melbourne, Sofitel Sydney Wentworth, a landmark hotel in the financial core of Sydney’s CBD, and a mixed-use property near the iconic Shanghai Bund.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
What is the significance of KKR's acquisition of Twenty Anson in Singapore?
This acquisition marks KKR's first real estate office investment in Singapore, indicating confidence in the country's economic recovery and office market potential.
What are the key features of Twenty Anson?
Twenty Anson is a 206,163-square-foot office building recognized for its ESG credentials, located in Singapore's prime business district.
How does KKR plan to benefit from the Twenty Anson investment?
KKR aims to leverage the long-term growth prospects of Singapore's office real estate market, supported by macroeconomic tailwinds and sustainable development trends.
When was the acquisition of Twenty Anson completed?
The press release does not specify the exact completion date, only that the acquisition has been announced as complete.
How does this acquisition fit into KKR's overall investment strategy?
The acquisition aligns with KKR's Asia Pacific real estate strategy, focusing on sustainable urban development and responding to market trends in Southeast Asia.
