The divestment of the property represents an 8.4% discount to the fair value of the property at $13.1 million. It is not expected to have a material impact on ESR-REIT’s net asset value (NAV) and net property income (NPI) for the FY ending Dec 31.
The manager of ESR-REIT has divested 28 Senoko Drive, a single-storey general industrial building, for a sale consideration of $12.0 million.
The REIT entered into an agreement with Tat Seng Packaging on Jan 10.
