Corporation Road for a purchase consideration of S$99 million from
Corporation Place Limited and the acquisition of 3 Changi Business Park
Vista for a purchase consideration of S$80 million from CBP3 Pte Ltd.
Mr Tan Ser Ping, Executive Director and Chief Executive Officer of the
Manager said, "We are pleased to enhance A-REIT's portfolio in Singapore
with the acquisition of the above two yield accretive assets. The
location and specifications of these properties will further strengthen
A-REIT's market position in the Jurong Lake District and Changi Business
Park area and enhance its operational efficiency."
The acquisitions are expected to have an annualised pro forma financial
effect of an additional 0.10 cents per unit (1) on the distribution per
unit for the financial year ended 31 March 2011.
A-REIT is expected to incur an estimated transaction cost of about
S$1.02 million, which includes S$0.8 million in acquisition fee payable
to the Manager (being 1% of the purchase price). With the above
acquisitions, A-REIT owns a total of 97 properties
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