“The divestment of 2JKB is in line with our strategy to continue unlocking value from E-LOG’s non-core properties,” says the CEO of the REIT manager Adrian Chui.
ESR-LOGOS REIT has divested a property at 2 Jalan Kilang Barat for $35.3 million, which is at a 21.7% premium to the asset’s valuation.
Edmund Tie & Company values the property at $29.0 million as at Sept 29. It has a gross floor area of 7,679 sqm and a remaining land lease tenure of about 39.8 years.
