Including other fees and expenses, the total acquisition outlay for MIT is estimated to be between US$204.3 million and US$266.9 million. The manager intends to fund this using debt financing, proceeds from an equity fundraising and/or internal cash resources.
The manager said the proposed acquisition is in line with its long-term strategy of focusing on property segments with"future growth potential". The deal will also increase the Reit's exposure to data centres - a resilient asset class with growth opportunities - while increasing its exposure to the US, said to be the world's largest data-centre market, according to the MIT manager.
Among other things, the proposed acquisition is expected to provide income stability and will be accretive to its distribution per unit based on pro forma historical impact. "Due to confidentiality reason, additional details relating to the proposed acquisition will be released in due course upon finalisation of the purchase consideration," the manager noted.BT is now on Telegram!
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