The manager of KORE announced that it has successfully completed the divestment or Northridge Center I & II in Atlanta, Georgia to for a gross divestment price of US$22.1 million ($30.6 million).
The price took into consideration the book value of Northridge Center, which was approximately US$20.1 million as at June 30.
The consideration was satisfied in cash and is 16.9% above its last independent valuation as at Dec 31, 2021.
The net divestment price after considering the transaction costs and the manager’s divestment fees is US$21.7 million.
Units in KORE closed 0.5 US cent higher or 0.725% up at 69.5 US cents on July 28.
