Keppel REIT (K71U) will acquire an additional one-third interest in Marina Bay Financial Centre Tower 3, raising its ownership to two-thirds. The agreed property value for the stake is 1.453 billion Singapore dollars, about one per cent below the independent valuation of 1.467 billion Singapore dollars. The total acquisition cost is 937.5 million Singapore dollars.

The 46-storey Grade A office tower has 1.3 million square feet of net lettable area, a committed occupancy of 99.5 per cent as at Sep, 30 2025, and a weighted average lease expiry of 3.5 years.

Funding will be secured through an equity bridge loan that will be repaid with proceeds from a 886.3 million Singapore dollar preferential offering. The offer will issue 23 new units for every 100 existing units at 0.96 Singapore dollars each, representing a 6.8 per cent discount to the last volume-weighted average price. The sponsor has committed to take up about 37.3 per cent of the new units.

Following completion, Keppel REIT’s portfolio value will rise from 9.8 billion Singapore dollars to 11.2 billion Singapore dollars, and its Singapore exposure will increase from 75.8 per cent to 79.0 per cent. Aggregate leverage is expected to edge down by 0.3 percentage points to 41.9 per cent after the preferential offering.

Listing of the new units is scheduled for Jan, 19 2026, subject to final regulatory approvals.