S-REITs - Week 35 - 2024

( YTD: +0.00% | 5D: +1.56%)

30 Aug - Entry Into Property Management Agreement

For a period of three years commencing from 1 September 2024 (the “Commencement Date”). The existing property management agreements entered into with the Property Manager in respect of AA REIT properties shall expire on 31 August 2024.

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( YTD: -15.62% | 5D: +1.89%)

22 Aug - ESR-LOGOS REIT Divests 81 Tuas Bay Drive At 16.7% Premium To Valuation

The REIT has entered into a contract of sale to divest 81 Tuas Bay Drive for S$35.0 million (excluding divestment costs and applicable goods and services tax) subject to the terms and conditions of the contract. The Sale Consideration represents a 16.7% premium above its valuation of S$30.0 million.

The Divestment is not expected to have a material impact on E-LOG’s net asset value and distribution per unit for the financial year ending 31 December 2024. The net proceeds from the Divestment will be deployed to repay outstanding borrowings, finance potential acquisitions, asset enhancement initiatives and redevelopments and/or fund general working capital requirements.

Upon completion of the Divestment, E-LOG’s diversified portfolio will consist of 70 properties (excluding 48 Pandan Road held through a joint venture) located across Singapore, Japan and Australia, as well as investments in three property funds in Australia. The Divestment is expected to be completed in 4Q2024.

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