23 March 2007 - Macquarie Global Property Advisors (MGPA), a private equity real estate fund management company, has agreed to acquire Temasek Tower in Singapore for S$1.039 billion from CapitaLand, a Singaporean listed property developer and owner.

The property is a 52 storey Grade A office building located in Shenton Way which has a net leaseable area of approximately 670,200 sq ft.

The property has been acquired on behalf of MGP Fund II which closed in September 2005 with equity commitments of US$1.3 billion. This is the second acquisition the Fund has made in Singapore, having acquired 12 floors in Springleaf Tower in December 2006.

In Asia, the Fund has also made acquisitions in Japan, Hong Kong, South Korea and Malaysia.