- Lendlease REIT had announced the acquisition of the remaining stakes of the mixed development JEM back in February 2022. The deal stands as the largest suburban retail transactions this year at a deal size of S$2,079m.
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JEM to deliver multi-faceted benefits to Lendlease REIT’s overall portfolio.
- We see JEM complimenting Lendlease REIT’s overall portfolio in multiple ways. JEM is one of the most established and dominant malls in Singapore’s west and enjoys excellent transport connectivity located next to Jurong East MRT, a key transit station. The addition of JEM’s tenant mix to the overall portfolio will carve out new trade sectors within the necessity spending space including supermarkets and home furnishing.
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Distributable income to almost double on more diversified sources of income.
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