"As part of our capital recycling strategy, the net proceeds may be redeployed towards AA REIT’s growth initiatives, including potential new acquisitions, asset enhancements initiatives and future development opportunities," says Russell Ng, CEO of the manager.
"This transaction underscores our proactive approach to portfolio management and our commitment to strengthening AA REIT’s resilience to deliver long-term sustainable returns to unitholders.”
The deal, which is subject to JTC Corp's approval, is expected to be completed within the first half of 2026.
Following the divestment, AA REIT’s portfolio will comprise 27 properties across Singapore and Australia.
AIMS APAC REIT units closed at $1.43 on March 4, down 3.38%.
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