SINGAPORE (Apr 24): ESR Funds Management announced that ESR-REIT is acquiring 15 Greenwich Drive,  a modern ramp-up logistics facility, for an estimated purchase price of $95.8 million.

Upon completion of the acquisition, the REIT’s exposure to the logistics/warehouse sector would increase to 27.1% from 22.6% previously, and increase its portfolio’s occupancy to 91.2% from 90.7%.

The proposed acquisition has an occupancy of 100%, currently tenanted to two tenants, and is valued at $96.4 million. It is a four-storey ramp-up logistics facility with ancillary offices located within Tampines LogisPark.

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