SG-listed OUE C-Reit sells 50% of Bayfront property to Allianz RE for $956m

SG-listed OUE C-Reit sells 50% of Bayfront property to Allianz RE for $956m

The Marina Bay Sands hotel and casino stands in Singapore, on Thursday, Feb. 18, 2016. Photographer: SeongJoon Cho/Bloomberg

Singapore-listed real estate investment trust OUE C-Reit is divesting its 50% stake in OUE Bayfront property to a special purpose vehicle managed by Allianz Real Estate on an agreed value of S$1.27 billion ($956 million).