Company Briefs

Cache in deal with DHL to develop warehouse

CACHE Logistics Trust has entered into an agreement with DHL Supply Chain Singapore to develop and lease a build-to-suit warehouse in Tampines LogisPark at an estimated total development cost of $105.1 million. The development will comprise two blocks with a total net lettable area (NLA) of around 928,100 sq ft, said the real estate investment trust's manager, ARA-CWT Trust Management (Cache) yesterday. The Reit will fund the development with internal funds and bank borrowings, with aggregate leverage expected to rise from 29.1 per cent at end-2013 to around 34.8 per cent on completion of the development. Cache's total deposited property will also increase by 8.6 per cent to $1.17 billion.

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