Rajah & Tann and Allen & Gledhill have advised a joint venture between Allianz Real Estate and Gaw Capital on its agreement to acquire the Duo Tower and Duo Galleria in Singapore for S$1.6 billion ($1.15 billion).

Under the terms of the joint venture, Allianz Real Estate is set to own a 60 percent stake in the office tower and gallery-style shopping mall, while Gaw Capital, which is representing a sovereign wealth fund in the transaction, will acquire the remaining 40 percent. 

Rajah & Tann Singapore advised Gaw Capital, while Allen & Gledhill advised the Munich-based insurer on the joint venture.

The Duo Tower and Duo Galleria are located above the Bugis MRT. It comprises 557,972 square feet of office space and 59,873 square feet of retail space.

The Rajah & Tann team was led by partners Norman Ho, Sandy Foo, Benjamin Tay and Favian Tan. 

The Allen & Gledhill team was led by partners Richard Young, Lauren Chung, Ko Xiaozheng, Ho Kin San, Lim Mei Ann and Aloysius Ng. 

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