- CapitaLand Ascott Trust proposed acquisition of lyf Funan Singapore at an agreed property value of S$263m and entry into a master lease (ML) arrangement.
Redeployment of divestment proceeds into a higher-yielding asset in Singapore as part of portfolio reconstitution efforts
- - Read this at SGinvestors.io -
- S$113m of loan repayment;
- S$3.1m of professional fees; and
- S$2.6m of acquisition fees, which will be paid in stapled securities.
- - Read this at SGinvestors.io -
- HVS and Colliers had separately valued the property at S$265m and S$271m, respectively, and though the agreed property value of S$263m screens favourable as compared to other recent deals in the market, it also takes into consideration the property’s leasehold tenure, which will expire on 11 Dec 2078.
An acquisition which makes sense, in our view, and that is expected to be DPS-accretive on a pro forma basis
- Read more at SGinvestors.io.
