CapitaLand Commercial Trust completed the acquisition of 89.8% interest of Main Airport Center from CapitaLand.

CapitaLand Commercial Trust completed the acquisition of 89.8% out of 94.9% interest in CapitaLand's holding companies of Main Airport Center, a freehold commercial property in Frankfurt, Germany. CapitaLand will hold a 5.1% stake, while CCT owns 94.9%. The transaction is based on an agreed property value of €265m on a 100% basis, negotiated on a willing-buyer and willing-seller basis. “The proposed transaction is another demonstration of CapitaLand’s ability to offer quality pipeline assets to our sponsored REITs and funds. Post transaction, CapitaLand will continue to benefit from MAC’s steady yield and participate in its future growth through our direct holding as well as CapitaLand’s stake in CCT. With the completion of the Ascendas-Singbridge transaction, the Group is strategically positioned to provide an even larger pipeline of quality assets to scale up our REITs and funds,” Mr. Lee Chee Koon, CapitaLand Group CEO.