AMP Capital Investors extends Asian property reach
AMP Capital Investors has extended its Asian property reach, picking up a significant stake in the property interests of MacarthurCook.
AMP Capital announced today that it had entered into an agreement to acquire 50 per cent of MacarthurCook Industrial Real Estate Investment Trust management and property management companies as well as taking a cornerstone stake of up to 19.2 per cent in the trust itself.
It said the transaction involved AMP Capital Investors acquiring 50 per cent of the Singapore real estate investment trust (REIT) management and property management companies that manage the Singapore Exchange-listed MacarthurCook Industrial REIT from MacarthurCook, which is now a subsidiary of the AIMS Financial Group.
Commenting on the transactions, AMP Capital Investors head of Asian property Simon Vinson said expanding the business in Asia was a key part of the company’s targeted growth strategy.
“This transaction allows us to further our property investment ambitions to build a strong platform in Singapore from which we can continue to develop within the region,” he said.
AUTHOR
Mike Taylor
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