With a total gross lettable area of around 179,645 sq m, the four logistics and industrial properties are fully leased to multinational corporations and third-party logistics providers with exposure to new economy sectors including e-commerce fulfilment services.
Frasers Logistics & Commercial Trust (FLCT) (SGX:BUOU
) announced that it has entered into share purchase agreements with subsidiaries of Frasers Property Limited (FPL) (SGX:TQ5) and an unrelated third party to acquire two freehold logistics properties located in Germany and two freehold logistics properties located in the Netherlands.
According to FLCT, the total purchase consideration amounts to approximately €294.9 million ($441.5 million), which represent a discount of around 0.9% of the average of the two independent valuations.
