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Straits Trading Company
19-09-2018, 06:59 PM.
Post: #91
RE: Straits Trading Company
(11-09-2018, 07:23 PM)cyclone Wrote: Subscription for Units in Property Trust and Shares in Investment Manager

The Straits Trading Company Limited announced that its subsidiary, Straits Real Estate Pte. Ltd. ("SREPL"), through its indirect wholly-owned subsidiary, SRE Australia Industrial 1 Pte. Ltd., has entered into a unitholders’ deed and a unit sale and subscription agreement for the subscription of units representing 80% of the issued units in ILP No. 1 Trust for a total sum of AUD40,076,392 (approximately SGD39,324,000) to acquire a portfolio of logistics properties across Australia. The Trust, through its indirect wholly-owned subsidiaries, owns a distribution facility in Port Adelaide, South Australia. It will also be assigned a land sale contract for the acquisition of a freehold redevelopment property located in Kilkenny, South Australia.

SREPL has also, through its indirect subsidiary, SRE Australia 12 Pte. Ltd., entered into a shareholders’ deed to subscribe for shares representing 50% of the issued shares in ILP Managers Pty Ltd  for a total sum of AUD50 (approximately SGD491).

More details in

Straits Trading Boosts Australian Presence with New Joint Venture; Expands Portfolio of Logistics Assets

ILP No. 1 Trust, which already owns 2 assets in South Australia ; will now acquire 2 other assets in the same state, and another in Victoria. The combined value of the 5 initial properties is AUD130.5 million (approximately SGD128.9 million)

Collectively, the Group now owns five logistics assets in Australia amounting to an aggregate NLA of more than 93,000 sqm, as well as total development land area of 20.2 hectares earmarked for logistics uses with permissible NLA of more than 90,000 sqm. The initial WALE of the portfolio exceeds 9 years.

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Specuvestor: Asset - Business - Structure.
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