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ESR-REIT Completes SG$33 Million Divestment of Industrial Property

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ESR-REIT (SGX:9A4U), through its trustee Perpetual (Asia), has completed the sale of its high-specification industrial property at 12 Ang Mo Kio Street 65 for S$33.3 million, according to a Friday filing with the Singapore Exchange.

The final sale consideration represents a 2.1% premium over the property's independent valuation of S$32.6 million as of June 30.

Following the divestment, ESR-REIT's portfolio comprises 61 properties across Singapore, Japan and Australia, along with investments in three property funds in Australia.

Proceeds from the divestment will be used to repay outstanding borrowings, fund potential acquisitions, support asset enhancement initiatives and redevelopments, and meet general working capital requirements.

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