Frasers Property and Frasers Centrepoint Trust completed the acquisition of a 35% stake in PGIM Real Estate AsiaRetail for S$700m.

Sister real estate companies Frasers Property and Frasers Centrepoint Trust completed the acquisition of a 35% stake in PGIM Real Estate AsiaRetail, one of the most successful Asia core funds, for S$700m. Frasers said the acquisition was in line with the group’s strategy to grow recurring incomes sources in one of its key asset classes - suburban retail properties.