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Elite Commercial Reit to buy 58 UK properties for £212.5m from sponsor

A third of the properties are in London, increasing the trust's overall exposure in the capital to 14 per cent

Fiona Lam

Published Mon, Oct 19, 2020 · 09:50 PM

Elite Commercial Reit

Singapore

ELITE Commercial Reit has proposed to buy 58 commercial buildings located across the UK for £212.5 million (S$372.9 million), in its first acquisition since its initial public offering (IPO) this February.

These assets are almost entirely leased to the UK government via various agencies, the real estate investment trust's (Reit) manager announced on Monday.

The Reit plans to acquire the entire share capital in special purpose vehicles Elite Amphora and Elite Cask, which hold the 58 buildings.

It has signed a conditional share purchase agreement wit…