AIMS APAC REIT (AA REIT) says its trustee, HSBC Institutional Trust Services, through the REIT’s wholly-owned sub-trust has entered into a put and call option agreement to acquire 315 Alexandra Road from Aster (Alexandra) for a consideration of $102.0 million.

The property is anchored by Sime Darby Property Singapore, a wholly-owned unit of Sime Darby Property Berhad, and will be acquired at an initial net property income (NPI) yield of 6.2%.

The building is a five-storey light industrial building that was originally built in the 1960s and expanded to include the three-storey annex building at the back.

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