Prime US Reit to buy first property post-IPO, Q4 DPU up 9% against forecast
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Vivienne Tay
Singapore
PRIME US Reit is shelling out US$165.5 million for a US property located in Sacramento, California - its first property acquisition following its initial public offering (IPO) in July 2019.
The real estate investment trust (Reit) has entered into a purchase agreement with GV/HI Park Tower Owner to acquire the property, with the purchase price of US$165.5 million representing a 2.6 per cent discount to the property's independent valuation of US$170 million as at Jan 16.
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