The property was completed in 1998 and was part of ALOG’s initial public offering (IPO) portfolio. It comprises a three-storey cargo lift warehouse facility with an adjoining four-storey office block with a total gross floor area (GFA) of 111,359 sq ft.
The manager of ARA LOGOS Logistics Trust (ALOG) says it has divested ALOG Changi DistriCentre 2, through a sale and purchase agreement with PGI Holdings, for a consideration of $16.7 million.
The consideration is said to be around 7.7% above the valuation of the property, which was valued by CBRE at $15.5 million as at Dec 31, 2020.
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