On Dec 30, 2022, SGREIT entered into a sale and purchase agreement to divest Daikanyama for JPY1,877.7 million ($18.9 million ), which is expected to be completed in early 2023. This translates to a 39.1% and 2.9% premium over its latest valuation and acquisition price respectively. The transacted price translates to a yield of 2.77%. The net proceeds will be used to repay the Yen borrowings and/or for working capital purposes.
In 1HFY2023, around 38.4% of SG REIT’s revenue is from master retail leases in Singapore and Malaysia. Office portfolio contributed another 14.6% of revenue.
