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ESR-REIT acquires Hyflux's Tuas facility for $111 mil in sale and leaseback deal

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ESR-REIT acquires Hyflux's Tuas facility for $111 mil in sale and leaseback deal

PC Lee Published on Thu, Oct 19, 2017 / 10:26 AM GMT+8

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SINGAPORE (Oct 19): The manager ESR-REIT has entered into a sale and leaseback deal with Hyflux.

ESR Funds Management will acquire 8 Tuas South Lane for a total of $111 million and lease back a majority of the space to Hyflux Membrane Manufacturing for 15 years once the deal is completed.

The property comprises of five detached factories, one block of eight-storey warehouse and four blocks of dormitory buildings.