CapitaLand Integrated Commercial Trust (C38U) said on Apr, 20 2026 that its trustee has agreed to acquire all the units of Paragon Trust and the entire share capital of Orchard 290 from subsidiaries of Temasek Holdings for an estimated 3.848 billion Singapore dollars, giving the real-estate investment trust full ownership of the freehold Paragon property on Orchard Road.

The deal values the 714,900-sq-ft upscale retail, medical and office complex at 3.900 billion Singapore dollars, marginally above an independent valuation by Knight Frank and just below one by Cushman & Wakefield. After deducting 52.0 million Singapore dollars of net liabilities, the purchase price is set at about 3.848 billion Singapore dollars.

Including a 39.0 million Singapore dollar acquisition fee—payable in new units—and roughly 32.0 million Singapore dollars of related expenses, total outlay is projected at 3.919 billion Singapore dollars. CICT plans to fund the 3.880 billion Singapore dollars cash component through new debt, at least 600.0 million Singapore dollars in private-placement proceeds and funds from its planned sale of Asia Square Tower 2, or a bridging loan if that divestment closes later.

CICT said the purchase yield is about 3.9% and forecast a 2.1% increase in fiscal-2025 distribution per unit, while aggregate leverage is expected to edge up to 39.2%, remaining below the 50% regulatory ceiling.

Because the vendors are Temasek-linked entities, the transaction is deemed an interested person and interested party deal, requiring approval from unitholders at an extraordinary general meeting slated for the second or third quarter of 2026. Completion is targeted for the same period.

Post-acquisition and after the Asia Square Tower 2 divestment, CICT’s portfolio value is projected to rise to 28.7 billion Singapore dollars, with about 95% of assets located in Singapore and an increased share of integrated developments.