Advising Sun Venture on a SGD655 million strategic acquisition in the heart of Singapore business district from Commerzbank

The corporate and real estate practice groups of Eversheds Harry Elias LLP are advising its longstanding client, Sun Venture Group in the acquisition of all the equity interests in CR-71 Robinson Road Singapore Pte. Ltd. (“CR-71 Robinson”) for an estimated consideration (based on adjusted net asset value) of approximately S$655 million from Commerz Real Investmentgesellschaft mbH (“Commerz Real” or the “Seller”).   CR 71 Robinson owns 71 Robinson Road, a Grade A commercial building which sits on the corner of Robinson Road and McCallum Street in the heart of Singapore business district, with blue chip tenants such as CommerzBank, Visa and Ogilvy.  Sun Venture Group is a Singapore based real estate developer with a sizeable portfolio of Grade A commercial buildings in the Republic of Singapore and is part of Legend Investment Holdings, backed by Taiwanese and Singaporean investors with interests in property and fund management.   The transaction was brokered by CBRE and JLL.  

Partners Claudia Teo, Pauline Lee, Khaw Gim Hong and Of Counsel Huang Zhihao are advising on the transaction.