TE Capital Partners Inks Purchase of 103 Penang Road in Singapore Orchard Road Precinct
November 14, 2023

TE Capital Partners, through a fund under its management, has announced the execution of a Put and Call Option Agreement to acquire VisionCrest Commercial, a freehold office building in the Orchard Road Precinct of Singapore, located at 103 Penang Road.

SINGAPORE (November 14, 2023) — A fund vehicle advised and operated by TE Capital Partners, announced today, that it has executed a Put and Call Option Agreement (“PCOA”) with Union Investment Real Estate GmbH (“UIR”), acting as the Investment Management Company for Unilmmo: Global (the “Vendor”), to acquire 103 Penang Road Singapore 238467, a 11-storey office building with retail component on the ground floor also known as VisionCrest Commercial (the “Property”). The Property forms part of VisionCrest, a mixed-use development, that also comprises of the House of Tan Yeok Nee and four residential blocks with 265 units in total.

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