Home News REITs

ESR-LOGOS REIT to Divest 3 Sanitarium Drive in Australia

Goola Warden
Goola Warden5/25/2022 7:49 AM GMT+08  • 1 min read
ESR-LOGOS REIT to Divest 3 Sanitarium Drive in Australia
3 Sanatorium Drive
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

ESR-LOGOS REIT's manager announced that it has entered into an agreement to divest 3 Sanitarium Drive, Berkeley Vale, New South Wales, Australia to Australasian Conference Association Limited for $53.4 million (A$55.0 million) (excluding divestment costs and applicable goods and services tax). The agreed sale price represents an 18.5% premium to the fair value of the property of $45.1 million (A$46.4 million) and is 61.8% above its purchase price of $33.0 million (A$34.0 million). The net proceeds from the divestment will be deployed to repay outstanding borrowings, finance upcoming asset enhancements and/or fund general working capital requirements.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now