Soilbuild REIT in buy and leaseback deal with Bukit Batok Connection

SINGAPORE (June 14): DBS Trustee, the trustee of Soilbuild Business Space REIT (Soilbuild REIT) has agreed to acquire Bukit Batok Connection from SB (Westview) Investment for a total of $100.5 million.

On completion of the acquisition, the trustee will also enter into a master lease agreement with SB Westview in relation to the lease-back of the property to SB Westview.

The lease is for seven years. SB Westview will pay rent of $8 million in the first year with a step-up of 2% a year.

---

Related Stories

• Soilbuild REIT removed from FTSE Singapore All Cap Index
• Soilbuild REIT adjusts privatisation offer to 53.806 cents from 55 cents as previously stated
• Soilbuild REIT executive chairman and co-founder offers 55 cents per unit to privatise REIT

---