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AA REIT to divest 10 Soon Lee Road for $8.2 mil

Property

AA REIT to divest 10 Soon Lee Road for $8.2 mil

Michelle Zhu Published on Mon, Jan 15, 2018 / 5:24 PM GMT+8

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SINGAPORE (Jan 15): The manager of AIMS AMP Capital Industrial REIT (AA REIT) has agreed to sell the REIT’s smallest asset in its portfolio that is valued below $10 million, 10 Soon Lee Road, for a consideration of $8.17 million.

“As part of our proactive asset management strategy, we constantly review our portfolio for efficiencies and growth opportunities. A strategic review of the portfolio shows that the property is ready for divestment. This is in line with our capital recycling strategy and will give us enhanced financial flexibility, allowing us to further strengthen AA REIT’s balance sheet and capital structure,” says Koh Wee Lih, CEO of the manager.

Located within an industrial estate on the southern side of Soon Lee Road, the property has a net lettable area (NLA) of 7,224.2 sqm over a detached single-storey industrial building, as well as a four-storey industrial building with an ancillary office block.

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AA REIT to divest 10 Soon Lee Road for $8.2 mil

Property

AA REIT to divest 10 Soon Lee Road for $8.2 mil

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AA REIT to divest 10 Soon Lee Road for $8.2 mil

Property

AA REIT to divest 10 Soon Lee Road for $8.2 mil

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