“Assuming the agreed property value remains unchanged at $885 million or $2,789 psf, the 30% stake would be worth $265.5 million and provide an NPI yield of 4.5%,” states Koh.
UOB KayHian analyst Jonathan Koh has maintained his “buy” call on Lendlease Global Commercial REIT (LREIT) as he sees potential upside from PLQ Mall and the revaluation of Jem.
In his Jan 6 report, Koh mentions that LREIT could consider “moving on” next to acquire the remaining 30% stake in PLQ Mall from its sponsor, Lendlease Corp.
