According to the manager, the divestment is in line with its “strategy to rejuvenate its portfolio through selective divestments”.
The net proceeds of the divestment are expected to pare down debt, and go towards working capital purposes, future acquisitions and distributions to unitholders.
Units in Starhill Global REIT closed 0.5 cents lower, or down 0.98%, at 50.5 cents on Oct 28.
