$900 million is the agreed purchase price for Wheelock Place, the Singapore property Hongkong Land is buying from Wharf. The deal is the inaugural acquisition by Hongkong Land's Singapore Central Private Real Estate Fund, and it carries the fund's assets under management to $7.3 billion. That implies the fund held $6.4 billion in AUM before the Wheelock Place commitment.
The transaction
Seller: Wharf. Buyer: Hongkong Land. Asset: Wheelock Place, Singapore. Price: $900 million (reported).
No cap rate, gross floor area, financing split, or closing date was included in the source announcement. At the stated post-deal AUM, the $900 million acquisition equals roughly 12% of the fund's total managed assets.
Singapore Central Private Real Estate Fund: the $7.3 billion read
The fund reaches $7.3 billion in AUM with Wheelock Place booked as its first purchase. The $6.4 billion in assets already on the books before this acquisition was not broken down by type or geography in the announcement.
Wheelock Place is the fund's first recorded transaction inside Singapore's market. No target fund size, deployment timeline, or investor composition was attached to the filing.