The transaction is targeted to be completed in 2Q2022. Upon completion, CLI is expected to receive proceeds of about $391 million and realise an estimated gain of $72 million.
CapitaLand Investment Limited (CLI) and its joint venture partners for 79 Robinson Road – Mitsui & Co. and Tokyo Tatemono Co. – have entered into agreements to divest their 100% interest in the property to CLI-sponsored investment vehicles CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (COREF) for $1.26 billion or $2,423 per sq ft.
CLI’s effective stake in the property is 65%.
