The divestment of the property is not expected to impact CLAR’s NAV and DPU for FY2024.
CapitaLand Ascendas REIT’s (CLAR) manager has agreed to divest 21 Jalan Buroh in Singapore for $112.8 million. 21 Jalan Buroh is a three-storey ramp-up warehouse with a seven-storey ancillary office block.
The proposed sale price is at a significant premium to the original purchase price of $58.4 million when CLAR acquired the property in 2006, and at a premium to the average of two independent market valuations $67.5 million as at July 1. The estimated sale proceeds are likely to be $102.9 million.
