The manager of Starhill Global REIT P40U says the REIT has completed the divestment of its office strata lots located in a Wisma Atira property to an unrelated third party buyer, according to an Oct 29 release.
The disposal of the property, which comprises approximately 7,653 sqf of net lettable area, had a sale consideration of $16.1 million.
According to the manager, the divestment is in line with its “strategy to rejuvenate its portfolio through selective divestments”.
The net proceeds of the divestment are expected to pare down debt, and go towards working capital purposes, future acquisitions and distributions to unitholders.
Units in Starhill Global REIT closed 0.5 cents lower, or down 0.98%, at 50.5 cents on Oct 28.
