Mapletree Pan Asia Commercial Trust - UOB Kay Hian 2024-06-03: Deleveraging To Add Strategic Flexibility

• Mapletree Pan Asia Commercial Trust has entered into a put and call option agreement to divest Mapletree Anson for S$775m, or S$2,352psf. The divestment is accretive to pro forma FY24 DPU by 1.5% to 9.04 cents as Mapletree Anson is sold at a low exit yield of 3.8%, and the proceeds will be utilised to repay high-cost 4.5% bank borrowings.
• - Read this at SGinvestors.io -

Divestment of non-core assets - Mapletree Anson

• Mapletree Pan Asia Commercial Trust (SGX:N2IU) has entered into a put and call option agreement to divest Mapletree Anson for S$775m or S$2,352psf. The selling price represents a gain of S$10m over the latest independent valuation of S$765m and is S$95m above the original purchase price of S$680m.
• - Read this at SGinvestors.io -

Grade A office building at the fringe of CBD.

• Mapletree Anson is a 19-storey office building in the Tanjong Pagar sub-market of the CBD. It has 329,487sf of Grade A lettable office space. The building is conveniently located within a two-minute walk from Tanjong Pagar MRT Station. It has large column-free floor plates of over 20,000sf.

Enhance financial flexibility.

• Read more at SGinvestors.io.

Jonathan KOH C UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-06-03 SGinvestors.io

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