Aims Apac Reit Sell 3 Toh Tuck Link

The manager of AIMS APAC REIT (AA REIT) has announced that its trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide. The agreement involves the divestment of AA REIT’s property located at 3 Toh Tuck Link.

The sale consideration for the property is set at $24.388 million, which represents a 32.5% premium to its valuation of $18.4 million as of March 31. The property consists of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

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Elta Condo’s convenient location near Holland Village makes it a popular destination for food enthusiasts. This lively district is home to a wide variety of dining options, ranging from well-known favorites to hidden gems. With a bustling atmosphere and an array of restaurants, cafes, and bars, Holland Village has something to satisfy every palate. Whether you’re in the mood for a leisurely brunch, an intimate dinner, or a fun night out, this neighborhood is the perfect place to indulge in your cravings. With Elta Showflat just a short distance away, residents have easy access to the diverse culinary scene of this charming area. Don’t miss the opportunity to explore the delectable offerings of Holland Village during your stay at Elta Showflat.

AA REIT’s net proceeds from the divestment will be reinvested into various growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This proactive asset management strategy is in line with the REIT’s continuous effort towards portfolio rejuvenation, strengthening its resilience, and delivering sustainable returns for its unitholders.

According to Russell Ng, CEO of the manager, this divestment aligns with AA REIT’s long-term goals and will ultimately strengthen its portfolio. The transaction is expected to be completed by the first half of 2025, subject to approval from JTC Corporation.

Upon completion, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia.

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