CMT to sell Rivervale Mall for S$190.5m

Singapore

THE manager of CapitaLand Mall Trust (CMT) announced on Thursday that CMT has agreed to sell its property, Rivervale Mall, to a private equity fund managed by AEW Asia for S$190.5 million.

Located in Sengkang New Town, Rivervale Mall is held on a 99-year leasehold title starting from Dec 6, 1997, with a remaining lease term of approximately 81 years. Completed in 2001, it is a three-storey shopping mall with a net lettable area of 81,159 square feet. The mall was fully occupied as at Sept 30, 2015. Major tenants include NTUC, Daiso, McDonald's and United Overseas Bank.