BlackRock Close to Buying 299 Singapore Serviced Apartments (1)

BlackRockhas completed due diligence on a potential purchase of Citadines Raffles Place serviced apartments for around S$300 million ($230 million), the Business Times reported, without saying where it got the information.

Citadines Raffles Place, which has 299 units, is situated within levels nine to 16 of the CapitaSpring building, BT said.

CapitaSpring is owned by a joint venture comprising CapitaLand Integrated Commercial Trust, CapitaLand Development and Mitsubishi Estate Co, the local newspaper added.

BlackRock declined to comment on the report.

(Updates with BlackRock’s response to Bloomberg News.)

--With assistance from Low De Wei.

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