TE Capital, LaSalle JV acquires VisionCrest Commercial

Major transformation will be conducted to improve the asset.

A joint venture between TE Capital Partners and LaSalle Investment Management completed the acquisition of the 11-storey Grade A office building VisionCrest Commercial in Orchard with a plan to transform the property, including improvements in transport connectivity.

In a joint statement, TE Capital and LaSalle said real estate firm Metro Holdings, through its indirect wholly-owned subsidiary Metrobilt Construction will own a 20% stake in the asset through its partnership with a TEC affiliate.

TE Capital and LaSalle aim to “amplify the superior attributes” of the property. Aside from transport connectivity, it will also improve the immediate access to retail, dining, entertainment and accommodation options.

ALSO READ: Stock of office space increases by 2,000 sqm in 4Q23

The JV will also improve the internal and external aesthetic appeal of the property and will also upgrade the security and visitor management system.

They will also install upgraded end-of-trip facilities, EV charges, bicycle spaces and solar panels for the property’s sustainability credentials.

“On behalf of our shareholders and investors, we are pleased to add this strategic asset to our portfolio. We believe the asset, which sits in the Orchard Road precinct with a historically low supply of high-specification office buildings, will enjoy strong capital value preservation and continue to see strong tenant demand,” said TE Capital Partners Managing Director Emilia Teo.

Follow the link for more news on

singapore office leasing market

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia