As this property accounts for just 2.2% of its portfolio value and 0.6% of its revenue, the sale is not expected to materially impact EREIT's NAV or DPU.
DBS Group Research has kept its "buy" call and 34 cents target price on ESR-LOGOS REIT (SGX:J91U
) (EREIT) following the divestment of a property in Australia at a significant premium to valuation.
On April 11, EREIT announced the sale of 182-198 Maidstone Street for A$65.5 million, which is at a 7.4% premium to valuations. Since FY2023, the REIT has divested around $500 million worth of assets, fetching an average premium of just 1% to valuations.
