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.
"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.
"This transaction underscores our proactive approach to portfolio management and our commitment to strengthening AA REIT’s resilience to deliver long-term sustainable returns to unitholders.”
The deal, which is subject to JTC Corp's approval, is expected to be completed within the first half of 2026.
Following the divestment, AA REIT’s portfolio will comprise 27 properties across Singapore and Australia.
See also: Japan Hotel REIT raises Yen61.8 billion to acquire Hyatt Regency Tokyo
AIMS APAC REIT units closed at $1.43 on March 4, down 3.38%.
