Aims Apac Reit Sell 3 Toh Tuck Link

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link. The sale consideration of $24.388 million represents a 32.5% premium to the property’s valuation of $18.4 million as at March 31.

The property, which consists of a three-storey factory and a five-storey ancillary office building, has a total gross floor area of 12,492.4 sqm. The divestment is expected to be completed by the first half of 2025, subject to approval from JTC Corporation.

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According to Russell Ng, the CEO of the manager, the net proceeds from the divestment will be reinvested to support AA REIT’s various growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This is in line with their proactive asset management strategy and continuous effort towards portfolio rejuvenation, which aims to strengthen AA REIT’s resiliency and deliver long-term sustainable returns for unitholders.

Upon completion of the divestment, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia.

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