FLCT to sell stake in facility, buy 2 properties

Singapore

FRASERS Logistics & Commercial Trust (FLCT) is looking to acquire two properties in Australia and the UK from its sponsor Frasers Property, as well as sell its remaining half stake in a cold storage facility in Australia, said the trust's manager, which also released an update saying that the coronavirus pandemic has not had a material impact on FLCT's portfolio.

In a bourse filing late Monday night, FLCT announced a proposal to acquire a logistics property in south-eastern Melbourne and a business park in Thames Valley in the UK for S$89.9 million in cash.