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by OrangeTee & Tie Pte Ltd.

Firmus Capital acquires Le Quest Mall in Singapore

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Singapore, 26 Aug 2021

Private equity real estate investment manager Firmus Capital Pte Ltd has acquired Le Quest Mall, a single-storey commercial property at Bukit Batok Street 41 (the “Mall”), in a deal brokered by OrangeTee Advisory.

The acquisition follows the firm’s recent acquisition of a property in Toa Payoh, which was subsequently leased to Tesla Singapore, and brings its newly launched Firmus Opportunity Fund VCC’s (the “Fund”) total assets under management to S$200 million.

Lim Su Kiat, Chief Executive Office of Firmus Capital and Fund Manager of Firmus Opportunity Fund VCC, said, “With global risk tolerance on an unprecedented downtrend, there is a capital flight to assets deemed secure with strong income generation capabilities. Le Quest Mall is a convenience centre that is well-located, with good accessibility serving a dense and growing catchment population. Our strategy is to curate a strong tenant mix focusing on necessities, essential services and F&B, and to position Le Quest Mall as top-of-mind for convenience-based shopping for the nearby residents.”

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