"As part of our capital recycling strategy, the net proceeds may be redeployed towards AA REIT’s growth initiatives, including potential new acquisitions, asset enhancements initiatives and future development opportunities," says Russell Ng, CEO of the manager.
AIMS APAC REIT plans to sell an industrial property at 8 Senoko South Road to Sin Hwa Dee Foodstuff Industries for $15 million, which is a premium of 11.1% premium over the latest valuation as of Feb 28.
As indicated on Sin Hwa Dee's website, 8 Senoko South Road is the address of the homegrown foodstuffs producer.
