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One George Street

Skyscraper from below

Singapore is a key gateway city for the Asia Pacific Cities strategy and the acquisition of One George Street will anchor the portfolio in a financially robust and attractive market and sector, complementing the strategy’s current allocation to logistics and multifamily.

— Louise Kavanagh, CIO & Head of Fund Management, Asia Pacific

This prime, grade A office is located in the highly sought-after Raffles Place district with excellent connectivity to public transportation including four major train stations situated within five to ten minutes’ walk. Completed in 2004, the property features large, highly efficient, and column-free floor plates of 30,000 sq ft, and a high floor ceiling height of three meters which provide ample flexibility for single or multitenant use. The building is enhanced by four roof gardens on various levels and is also complemented by tenant amenities including flexible working space, a fitness centre with swimming pool, beverage outlets and generous car parking.

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The Asia Pacific properties are owned by Asia Pacific Cities Fund (APCF), in which Nuveen Global Cities REIT (REIT) has made $50 million in commitments as of 30 June 2022, the entire commitment has been invested. APCF has $1.2 billion in gross asset value as of 30 June 2022 excluding purchases post quarter end. The REIT does not charge investors for management of this commitment. Investors indirectly pay the underlying management fee of APCF, on the amount of their commitment to the fund, which is lower than the REIT’s management fee. The REIT will not have direct control over APCF and therefore a part of the REIT’s performance will be affected by decisions made by APCF.

These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.