LMIRT Management, the manager of Lippo Malls Indonesia Retail Trust, has agreed to acquire Lippo Mall Kuta, a three-storey retail mall which is located in Kuta, Bali, from sponsor PT Lippo Karawaci Tbk. for a total cost of $92.7 million.
LM Kuta a three-storey retail mall located in Kuta, Bali, that is to be integrated with a premium 180-room hotel.
Based on the pro forma financial statements for the financial year ended Dec 31 2014, the Net Property Income contribution from LM Kuta would be $7.3 million.
This represents, on a historical pro forma basis, a 5.8% increase in LMIR Trust’s Net Property Income for the financial year ended Dec 31 2014.
In addition, upon the completion of the acquisition, the size of LMIR Trust’s portfolio is expected to increase by 4.5% to $1.9 billion.
The acquisition is subjected to the approval by unitholders.
Lippo Malls Indonesia Retail Trust closed 1.56% lower at 31.5 cents.
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LM Kuta a three-storey retail mall located in Kuta, Bali, that is to be integrated with a premium 180-room hotel.
Based on the pro forma financial statements for the financial year ended Dec 31 2014, the Net Property Income contribution from LM Kuta would be $7.3 million.
This represents, on a historical pro forma basis, a 5.8% increase in LMIR Trust’s Net Property Income for the financial year ended Dec 31 2014.
In addition, upon the completion of the acquisition, the size of LMIR Trust’s portfolio is expected to increase by 4.5% to $1.9 billion.
The acquisition is subjected to the approval by unitholders.
Lippo Malls Indonesia Retail Trust closed 1.56% lower at 31.5 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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