AA Reit proposes buying Bulim Street logistics facility for S$129.6m

Vivienne Tay

Published Tue, Aug 11, 2020 · 09:50 PM

Singapore

THE trustee of AIMS Apac Reit (AA Reit) on Aug 7 entered into a put and call option agreement with Titan (Wenya) to acquire a ramp-up logistics warehouse at 7 Bulim Street for a purchase price of about S$129.6 million.

The total cost of acquisition is around S$135.5 million, after including an estimated stamp duty of around S$3.9 million and estimated transaction costs of about S$2 million.

The property will be acquired at an initial net property income (NPI) yield of 7.07 per cent, based on its NPI in the first year of ownership of S$9.2 million over the S$129.6 million purchase price. When…