According to CICT’s announcement, the consideration was in line with the property’s latest valuation of $688 million as at Oct 31. The amount also represents a 6% premium to its valuation of $649 million as at Dec 31, 2023.
RHB Bank Singapore and DBS Group Research have maintained their “buy” calls on CapitaLand Integrated Commercial Trust (SGX:C38U
) (CICT) after the REIT announced that it divested 21 Collyer Quay to an unrelated, unnamed third party for $688 million on Nov 12. Both RHB and DBS have kept their target prices at $2.30.
21 Collyer Quay is a 21-storey office building located in Raffles Place with a lease of 999 years. It is currently fully leased to WeWork Singapore for a seven-year term starting December 2021.
