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Ascendas Reit to divest Genting Lane property

Published Fri, Dec 22, 2017 · 09:50 PM

Singapore

ASCENDAS Real Estate Investment Trust (Reit) is intending to sell its No 84 Genting Lane property to Axxel Marketing Pte Ltd for S$16.68 million, after it announced on Friday that it has completed the acquisition of its third suburban office property located in Queensland, Australia.

In a Singapore Exchange filing, Ascendas Funds Management (S) Ltd, the manager of Ascendas Reit, said that HSBC Institutional Trust Services (Singapore) Ltd, as the trustee of Ascendas Reit, has entered into a sale and purchase agreement with Axxel Marketing.

ascendas reit

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