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Exterior of office building The 46-story Asia Square Tower 2 was completed in 2013.

SINGAPORE—BlackRock Asia Property Fund III is exiting its ownership of the Asia Square office complex here with the sale of Asia Square Tower 2. The buyer was locally based CapitaLand Commercial Trust, which is paying S$2.15 billion, or approximately US$1.59 billion, for the 778,719-square-foot tower.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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