Viva Industrial Trust has completed the acquisition of two light industrial properties, and a third property acquisition is expected to be completed in 1Q2016.
The new properties will raise its portfolio value to about $1.2 billion.
The two completed acquisitions are located at Tai Seng Avanue and Ubi Road 1. The REIT has also entered into a put and call option agreement for the acquisition of a third property at Pioneer Road.
The REIT says it would not exercise the right of first refusal (ROFR) from Ho Lee Group for the acquisition of a 1 million square feet industrial property at 7000 Ang Mo Kio for $255 million. It adds it would have to undertake a major equity fund raising exercise to partially fund the acquisition and the site would not be "yield-accretive" if it does so under current market conditions.
Separately, Viva Industrial Trust is renaming its Technopark@Chai Chee as Viva Business Park. The property will be turned into a vibrant workplace with sporting and lifestyle amenities for tenants. Part of phase 1 of the revamp efforts will start in 1Q.
The counter closed at 69.5 cents.
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The new properties will raise its portfolio value to about $1.2 billion.
The two completed acquisitions are located at Tai Seng Avanue and Ubi Road 1. The REIT has also entered into a put and call option agreement for the acquisition of a third property at Pioneer Road.
The REIT says it would not exercise the right of first refusal (ROFR) from Ho Lee Group for the acquisition of a 1 million square feet industrial property at 7000 Ang Mo Kio for $255 million. It adds it would have to undertake a major equity fund raising exercise to partially fund the acquisition and the site would not be "yield-accretive" if it does so under current market conditions.
Separately, Viva Industrial Trust is renaming its Technopark@Chai Chee as Viva Business Park. The property will be turned into a vibrant workplace with sporting and lifestyle amenities for tenants. Part of phase 1 of the revamp efforts will start in 1Q.
The counter closed at 69.5 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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