In Brief

A-Reit divests Senoko Way property for S$24.8m

ASCENDAS Real Estate Investment Trust (A-Reit) is returning 26 Senoko Way to JTC Corp for S$24.8 million. This represents a 60 per cent premium over the S$15.5 million that was paid for the two-storey building with a four-storey extension block in 2007. The proceeds will be used to fund committed investments, repay existing debts, fund general working capital needs and make distributions to unitholders, said the Reit manager Ascendas Funds Management Ltd. The manager will receive a divestment fee of 0.5 per cent, to be paid in A-Reit units.

MLT expands Japan asset to support tenant