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Ascendas REIT to sell Ascendas Z-link in China for $160m
The property is situated in Beijing.
The real estate investment trust (REIT) is expected to divest its Ascendas Z-link property in China for notably higher than its asset valuation of RMB690.
According to a report by OCBC, the deal is expected to be completed by the first half of 2017.
OCBC added the the net proceeds after tax and divestment are expected to be $135m.
“We are positive on this transaction, given the attractive divestment price, while A-REIT also highlighted that there would be an improvement of ~0.04 S cents to its DPU on a pro forma basis for its FY16 results,” OCBC said.
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