Elite UK REIT (SGX:MXNU) agreed to acquire five UK government-leased properties for 31.9 million pounds, according to a Tuesday filing with the Singapore Exchange.
The five properties have a combined area of 364,048 square feet.
The deal, conducted through its subsidiary, Elite Kist, will expand the trust's portfolio weighted average lease expiry to 7.6 years.
The REIT will fund the acquisitions through a mix of bank borrowings and a private placement exercise, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments