ESR-LOGOS REIT Completes Divestment of Industrial Building for SG$35.0 Million

MT Newswires

2024/10/31

ESR-LOGOS REIT (SGX:J91U) completed the divestment of a general industrial building located at 8 Tuas Bay Drive for SG$35.0 million, according to a filing with the Singapore Exchange on Wednesday.

The sale consideration is a 16.7% premium above the property's valuation of SG$30.0 million.

Net proceeds from the divestment will be used to repay debt, finance future acquisitions and for general working capital needs.

Following the divestment, the REIT's portfolio now stands at 70 properties.

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