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Aims Apac Reit to acquire Sime Darby Business Centre for S$106.6m

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AIMS Apac Reit is set to acquire Sime Darby Business Centre - a premium showroom and business-space precinct along Alexandra Road - for S$106.6 million. Read more at The Business Times.

The light industrial facility has a land area of 7,720 sq m, and a GFA of 16,647 sq m. The remaining land tenure was 34.2 years as at end-December.

Aims Apac Reit said the property will be acquired at an initial net property income yield of 5.9 per cent, and is distribution per unit accretive. The acquisition is proposed to be fully funded by debt, comprising a new term loan and existing debt facilities.

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