Gerv Tacadena
,
Singapore
Its sale consideration sits at $14.8m.
Sabana REIT entered a conditional sale and purchase agreement through its trustee HSBC Institutional Trust Services Ltd. for the sale of 218 Pandan Loop, Singapore 128408 to X Properties Inc. Pte. Ltd.
The total cash consideration of $14.8m is 9.6% higher than the purchase consideration, the group said. The sale consideration is also 13.8% above the property's book value of $13m.
Sabana noted that this is in line with its strategy to divest noncore and under-performing assets to recycle its capital into higher yielding assets.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!