- Mapletree Pan Asia Commercial Trust announced divestment of Mapletree Anson for S$775m to a third party at a slight premium to book and exit NPI yield of 3.8%.
Regaining financial flexibility
- - Read this at SGinvestors.io -
- Further recycling of non-core assets should boost the investment case.
Transaction details
- Mapletree Anson is a CBD fringe office with 82 years of remaining land lease. The divestment consideration of S$775m is at a 1.3% premium to the last independent valuation of S$765m and 14% above the purchase price of S$680m. The property has 100% committed occupancy.
- - Read this at SGinvestors.io -
- The transaction price equates to S$2,352 psf of NLA, which is 19% below the sale of adjoining building Twenty Anson in Apr 2022.
Financial & strategic merits of the deal
- Read more at SGinvestors.io.
