The trustee of OUE Commercial REIT (OUE C-REIT), DBS Trustee, has established a limited liability partnership with BPH Propco LLP and ACRE Angsana, a special purpose vehicle (SPV) managed by Allianz Real Estate Asia Pacific on behalf of National Pension Service of Korea (NPS) and Allianz group companies.

OUE C-REIT and Allianz Real Estate each holds a 50% interest in BPH LLP.

DBS Trustee, has, concurrently, entered into a sale and contribution agreement with BPH for the sale and contribution of the OUE Bayfront property to BPH LLP.

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