The divestment of the property is not expected to impact CLAR’s NAV and DPU for FY2024.
On a pro forma basis, the NPI would fall by $4.6 million, and DPU would decline by 0.085 cents. Pro forma aggregate leverage would be 37.4% instead o 37.9%. CLAR’s FY2023 NPI was $1.023 billion, and DPU was 15.16 cents.
The proposed divestment is expected to complete within the fourth quarter of 2024. Following the completion, CLAR will own 228 properties comprising 96 properties in Singapore, 34 properties in Australia, 48 properties in the US and 50 properties in the UK/Europe.
