The manager announced Monday that LMIR Trust has entered into conditional sale and purchase agreements to sell the properties to NWP Retail, a joint venture between Warburg Pincus and PT City Retail Developments.
SINGAPORE (Dec 31): Lippo Malls Indonesia Retail Trust (LMIR Trust) is divesting two retail shopping malls in Indonesia – Pejaten Village in South Jakarta and Binjai Supermall in North Sumatra – for a total sale consideration of 1.28 trillion rupiah ($124.3 million).
This marks LMIR Trust’s first divestment since its listing in 2007.
