A $1.7bn deal has been inked for an A-grade office tower and retail complex
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Three firms have advised on the $1.7bn acquisition of an A-grade office tower and retail complex in Singapore.
Allen & Gledhill advised Allianz, while Baker McKenzie advised Gaw Capital. The two investors have formed a joint venture to acquire the entirety of Ophir-Rochor Commercial, which owns the iconic DUO Tower and DUO Galleria. The joint venture was also advised by Rajah & Tann.
The Allen & Gledhill team included partners Richard Young, Lauren Chung, Ko Xiaozheng, Ho Kin San, Lim Mei Ann, and Aloysius Ng.
The multijurisdictional Baker McKenzie team included registered foreign lawyer Edwin Wong, Elizabeth Mifsud and Stephanie Chen from Hong Kong.
Baker McKenzie fielded a multijurisdictional team to work on the deal. From the firm’s Singapore member firm, Baker McKenzie Wong & Leow, local principal Luyi Chan and associate Alina Tan advised on the deal. Partner Sue Wan Wong and associates Shin Mei Koay and Yi Yong Choo from Malaysian member firm Wong & Partners also worked on the deal. In Hong Kong, the team included registered foreign lawyer Edwin Wong, lawyer Elizabeth Mifsud and trainee solicitor Stephanie Chen.
Allianz is set to own 60% of Ophir-Rochor Commercial, with its partner, Gaw Capital, owning the remaining 40%. DUO Tower and DUO Galleria, located above the Bugis MRT Interchange Station, is made up of 557,972 sq. ft. of office space and 59,873 sq. ft. of retail space.
