Sale will be with existing long-term tenancies in place; 170,000 sq ft portfolio is anchored by FairPrice. Read more at straitstimes.com.
SINGAPORE – NTUC Enterprise’s real estate unit Mercatus Co-operative is understood to have quietly put on the market a portfolio of 18 commercial properties in Housing Board estates.The 18 properties add up to about 170,000 sq ft of space in HDB shops, shophouses and low-rise commercial blocks. The portfolio has full occupancy.
Mr Clemence Lee, executive director of capital markets for Singapore at CBRE, said: “Mercatus is exploring a sale of a portion of its assets via an expression of interest exercise. CBRE has been appointed as the agent.” A spokesman for Mercatus said that it regularly reviews its portfolio to deliver greater social impact and generate long-term sustainable returns for its stakeholders.
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