LMIRT to buy retail mall in Jakarta for 3.7t rupiah

Singapore

LIPPO Malls Indonesia Retail Trust (LMIRT) is looking to acquire Lippo Mall Puri in West Jakarta for 3.7 trillion rupiah (S$354.7 million), financed with a combination of debt and equity financing, the Reit's (real estate investment trust) manager said in a regulatory filing.

LMIRT Management, the Reit manager of LMIRT, has entered into a conditional sales and purchase agreement (CSPA) with PT Mandiri Cipta Gemilang for the proposed acquisition of Lippo Mall Puri. PT Mandiri Cipta Gemilang is a wholly owned subsidiary of PT Lippo Karawaci Tbk, which is the sponsor of LMIRT.