Prime US Reit to buy first property post-IPO, Q4 DPU up 9% against forecast
Singapore
PRIME US Reit is shelling out US$165.5 million for a US property located in Sacramento, California - its first property acquisition following its initial public offering (IPO) in July 2019.
The real estate investment trust (Reit) has entered into a purchase agreement with GV/HI Park Tower Owner to acquire the property, with the purchase price of US$165.5 million representing a 2.6 per cent discount to the property's independent valuation of US$170 million as at Jan 16.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hugo Boss profit tops expectations, but China lags
DBS customers unable to login to Digibank, PayLah! on Thursday
If inflation continues to build, the Fed won’t be able to maintain neutral stance for long
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok