Ascendas Reit to sell Shanghai business park for S$222m

Singapore

ASCENDAS Real Estate Investment Trust (A-Reit) on Thursday said its manager will sell a business park in Shanghai for a net S$222 million.

The business park, A-Reit City @ Jinqiao, will be sold to Vanke Property (Hong Kong) Company's unit, Wkland Investments II Limited.

The total consideration stands at S$228 million, and that amount includes an assignment of A-Reit's shareholder loan to its unit that o…