05 Jan 2023

Link REIT’s S$2.161 billion acquisition of Jurong Point and Swing By @ Thomson Plaza

Acting for Link Real Estate Investment Trust (“Link REIT”) in its first acquisition in Singapore, the approximately S$2.161 billion acquisition of suburban retail assets, Jurong Point and Swing By @ Thomson Plaza, from Mercatus Co-operative Limited (“Mercatus”), a subsidiary of NTUC Enterprise Co-operative Limited. The team is also advising Link REIT on its 10-year asset and property management of AMK Hub which will remain under the ownership of Mercatus, and the retention of employees for the management of Jurong Point, Swing By @ Thomson Plaza and AMK Hub. Partners Evelyn Wee (Deputy Head, Corporate and Transactional Practice), Benjamin ST Tay (Deputy Head, Corporate Real Estate) and Loh Chun Kiat (Partner, Mergers & Acquisitions) led the transaction. The team is assisted by Partners Chen Xi (Partner, Capital Markets / Mergers & Acquisitions), Elsa Chai (Co-Head, Corporate Real Estate), Lina Chua (Partner, Corporate Real Estate), Kala Anandarajah (Head, Competition & Antitrust and Trade), Benjamin Cheong (Deputy Head, TMT), Anne Yeo (Head, Funds and Investment Management) and Vikna Rajah (Head, Tax & Trust, Co-Head Private Client).