ESR-REIT manager ESR Funds Management has announced that RBC Investor Services Trust Singapore (in its capacity as trustee of ESR-REIT) has completed the divestment of 11 Serangoon North Avenue 5 and 3C Toh Guan Road East for approximately $53 million.

This figure excludes divestment costs and GST, and represents a 3% premium to the total fair value of the two properties.

They are valued at $51.5 million as at 30 September 2021, and the $53 million divestment price also represents a 7.1% premium to their total acquisition price. 

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