Real estate services provider APAC Realty, which owns ERA Realty Network, has entered into an agreement to acquire the entire 100% stake in HC Home from Hersing Corporation for $72.8 million.

HC Home, which owns a three-storey commercial property located at 450 Lorong 6 Toa Payoh, will become a wholly-owned subsidiary of APAC Realty following completion of the transaction.

The leasehold commercial property sits on a site area of approximately 1,392.4 sq m, with a gross floor area of 4,121.4 sq m. The property’s 99-year lease from the Housing and Development Board (HDB) commenced on Aug 1, 1970.

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