SINGAPORE (Jan 15): The manager of AIMS AMP Capital Industrial REIT (AA REIT) has agreed to sell the REIT’s smallest asset in its portfolio that is valued below $10 million, 10 Soon Lee Road, for a consideration of $8.17 million.

“As part of our proactive asset management strategy, we constantly review our portfolio for efficiencies and growth opportunities. A strategic review of the portfolio shows that the property is ready for divestment. This is in line with our capital recycling strategy and will give us enhanced financial flexibility, allowing us to further strengthen AA REIT’s balance sheet and capital structure,” says Koh Wee Lih, CEO of the manager.

Located within an industrial estate on the southern side of Soon Lee Road, the property has a net lettable area (NLA) of 7,224.2 sqm over a detached single-storey industrial building, as well as a four-storey industrial building with an ancillary office block.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook