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ESR-REIT acquires 80% of AMK high-specs building for $243.5 mil

Property

ESR-REIT acquires 80% of AMK high-specs building for $243.5 mil

Samantha Chiew Published on Thu, Dec 14, 2017 / 7:55 AM GMT+8

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SINGAPORE (Dec 14): ESR Funds Manager, the manager of ESR-REIT, is acquiring an 80% stake in 7000 AMK which owns a leasehold interest in 7000 Ang Mo Kio Ave 5 for $243.5 million.

ESR Funds Manager has also been granted a put and call option to purchase the remaining 20% stake in 7000 AMK from seller Ho Lee Properties.

To partially fund the acquisition, the manager plans to sell up to 263 million new units of ESR-REIT.

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