AIMS Apac Reit announced on Thursday it has secured a master tenant for its property at 3 Tuas Avenue 2.
A global medical device company, headquartered in the United States, will occupy the entire premises of approximately 268,000 square feet, said AA Reit's manager Aims Apac Reit Management in a regulatory filing. The tenant has committed to a 10-year master lease on a triple net lease basis, with rental escalations every two years during the initial term, and options to renew the lease for up to a further 20 years after the expiry of the initial 10-year term.
The Tuas property, which was originally projected to have its redevelopment completed in the second half of 2019, is now expected to be completed in the first half of 2020 due to redesigning of the property's base-build to cater for the master tenant's operational requirements. This, however, will not have a material impact on the overall redevelopment cost of the property.It is expected that the Tuas property tenancy will provide an approximate initial net property income yield of 7.
Units of AA Reit ended one Singapore cent or 0.68 per cent lower at S$1.46 on Thursday before the announcement.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cromwell E-Reit completes 80.3m euro purchase of 3 French office propertiesCROMWELL European Real Estate Investment Trust (Cromwell E-Reit) has completed the acquisition of three freehold office properties in Greater Paris, France, which cost some 80.3 million euros (S$122.7 million) in total, its manager said in a filing on Thursday morning. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Stocks to watch: CapitaLand, Lum Chang, CCT, Frasers Property, Keppel-KBS US ReitTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Frasers Property secures A$500m green loan for two Singapore propertiesFRASERS Property Limited has secured a A$750 million (S$715.2 million) term loan, comprising a A$500 million green loan tranche and a A$250 million five-year tranche, the real estate developer said on Wednesday morning. The A$500 million tranche is Singapore’s first green loan with a pricing structure linked to the BCA Green Mark, said the company. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Cromwell E-Reit completes 80.3m euro purchase of 3 French office propertiesCROMWELL European Real Estate Investment Trust (Cromwell E-Reit) has completed the acquisition of three freehold office properties in Greater Paris, France, which cost some 80.3 million euros (S$122.7 million) in total, its manager said in a filing on Thursday morning. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Stocks to watch: CapitaLand, Lum Chang, CCT, Frasers Property, Keppel-KBS US ReitTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Budweiser APAC's IPO failure hurt retail investors, say newspaper adverts urging reformThe dramatic failure of brewer Budweiser APAC's US$9.8 billion Hong Kong listing left 'mom and pop' investors badly out of pocket, a local broker ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »