StocksMedium•3 November 2026•
1 min read
OUE REIT Increases Stake in Sydney Salesforce Tower in $607M Deal
Key Facts
1OUE REIT acquired an additional 50% stake in Sydney's Salesforce Tower from Ping An Insurance.
2The deal is valued at $607 million, increasing the REIT's total ownership of the building to 69.9%.
3The acquisition will be funded via debt and proceeds from the sale of the Crowne Plaza hotel at Changi Airport.
OUE REIT acquired an additional 50% stake in Sydney's Salesforce Tower from Ping An Insurance. Forbes Australia reported that the deal is valued at $607 million, increasing the REIT's total ownership of the building to 69.9%. The acquisition will be funded via debt and proceeds from the sale of the Crowne Plaza hotel at Changi Airport.
The move aims to strengthen the REIT's portfolio value to S$6.4 billion. Regarding related financial instruments, CRM, the tower's anchor tenant, closed at $226.18 on November 2, 2026.