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| SEB invests in Singapore SEB Asset Management, Frankfurt, the specialist real estate and securities investment house of the SEB Group in Germany, has made a second investment in Asia for its newly launched real estate fund SEB Asian Property Fund SICAV-FIS. It secured a 40% interest in the 37-storey class A office building Springleaf Tower in Singapore's CBD for a translated purchase price of approximately EUR 107 million. The investment comprises twelve storeys – known as strata title storeys – with a total of 9,896 m² of office space. At present, the letting rate is around 94% and there are prospective tenants for the rest of the space. Among its main tenants are Kimberly-Clarke Finance, BHP Biliton, Zueling Insurance Brokers and Tellabs Asia Pacific. The "Springleaf Tower" is located in the central business district of the Shenton Way submarket and is just a few minutes walk from the Tanjong Pagar subway station. The submarket boasts 196,500 m² of office space and currently has a vacancy rate of a mere 0.2%. write your comments about the article :: © 2007 Construction News :: home page |