ESR-Reit Sells 8 Non-Core Singapore Properties for $338m in Distribution Dilutive Divestment

ESR-Reit sells 8 non-core Singapore properties for $338m in distribution dilutive divestment

Units of ESR-Reit fell 0.7 per cent to $2.72 as at 9.32am. Read more at straitstimes.com.

Brookfield Buying Singapore Industrial Portfolio From ESR REIT

With the city-state’s benchmark interest rates having fallen by more than two-thirds this year, Singapore’s real estate markets are thawing from a multi-year freeze thanks to deals such as a purchase of eight industrial assets by Brookfield Asset Management announced... Read More>> The post Brookfield Buying Singapore Industrial Portfolio From ESR REIT for $262M appeared first on Mingtiandi.

ESR-REIT to divest eight industrial assets to Brookfield Asset Management for $338.1 mil

SINGAPORE (EDGEPROP) - ESR-REIT has announced the proposed divestment of eight non-core industrial properties in Singapore for a total consideration of $338.1 million, representing a 2% premium to their independent valuation as at Nov 30. The sale, to third-party purchasers managed by Brookfield Asset Management affiliates, is part of ESR-REIT's ongoing strategy to rejuvenate its portfolio and recycle capital into new, value-accretive opportunit…

ESR-Reit sells 8 Singapore assets to Brookfield for S$338m; sale would trim distribution

The move is part of Reit’s strategy to offload non-core assets, particularly those suffering lease decay