TE Capital Partners through its TE Asia Opportunities Series and a fund managed by LaSalle Investment Management has completed the acquisition of 140 Cecil Street, a 17-storey office building also known as PIL Building within Singapore’s Central Business District. TE Capital Partners will be the operating partner for the Joint Venture.
As the first partnership between TE Capital Partners and LaSalle Investment Management, this synergistic tie-up represents the vote of confidence both managers have in the Singapore office sector. The Joint Venture plans to redevelop the Property into a Grade A office building featuring Green Mark Platinum Certification, a high floor to ceiling height of 4.9 metres and efficient floor plates which would provide ample flexibility for single or multitenant use. The building will offer excellent views over the CBD as well as the bustling Telok Ayer precinct.”