Acrophyte Asset Management to acquire ESR Trust Management (Suntec) from ESR Group.

Acrophyte Asset Management, a sponsor vehicle controlled by Mr Gordon Tang, agreed to acquire ESR Trust Management (Suntec), manager of Suntec REIT, from ESR Group, an Asia focused real estate services and investment company. Financial terms are not disclosed. “Our team remains focused on disciplined execution to deliver long-term value for unitholders and uphold Suntec REIT’s leading market position. After the handover, we will work closely with Mr. Tang to deliver sustainable growth through pro-active capital and portfolio management,” Mr. Chong Kee Hiong, ESR Group Chief Executive Officer.