Rajah & Tann Singapore has advised the Hong Kong-listed Link Real Estate Investment Trust on its S$2.16 billion ($1.6 billion) acquisition of two Singapore shopping malls from Mercatus Co-operative, which was represented by Allen & Gledhill.

This transaction, involving the suburban malls Jurong Point and Swing By @ Thomson Plaza, allows Link REIT to build a dedicated team in Singapore and provides a base to expand further into other asset classes and strategies in the Asia-Pacific, Reuters reported. Singapore’s suburban shopping centres have been growing despite the COVID pandemic restrictions.

The Rajah & Tann team was led by partners Evelyn Wee, Loh Chun Kiat, Benjamin Tay, Elsa Chai, Lina Chua, Kala Anandarajah, Anne Yeo, Benjamin Cheong and Vikna Rajah.