The Business Times
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ESR-Logos Reit eyes up to S$450m divestments to rejuvenate portfolio; H1 DPU down 6%

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Jude Chan
Vivienne Tay

Jude Chan &

Vivienne Tay

Published Wed, Jul 27, 2022 · 10:04 AM
    • This was the first set of financial results released after the ESR-Reit and Ara Logos Logistics Trust merger was completed in April 2022.
    • This was the first set of financial results released after the ESR-Reit and Ara Logos Logistics Trust merger was completed in April 2022. PHOTO: ESR-LOGOS REIT

    THE manager of ESR-Logos Reit on Wednesday (Jul 27) said it has identified up to S$450 million of non-core assets – over 8 per cent of its S$5.5 billion portfolio – for divestment over the next 12-24 months, in an effort to recalibrate its portfolio and unlock value.

    “These non-core assets are really small, non-scalable, and have shorter land leases,” Adrian Chui, chief executive officer of the manager of ESR-Logos Reit, said at a briefing accompanying its first half 2022 results announcement.

    Proceeds from the divestments may be used to pare down debt or be redeployed towards the acquisition of higher quality new economy assets, the real estate investment trust (Reit) manager said.

    ESR-Logos ReitFinancial resultsS-Reits

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