Frasers Logistics & Commercial Trust announced its plans to acquire a prime logistics property from an unrelated third party, Diamond Land.
Frasers Logistics & Commercial Trust announced its plans to acquire a prime logistics property from an unrelated third party, Diamond Land. The manager of FLCT said that the property, located at 2 Tuas South Link 1, is under contract for approximately S$140.3 million.
The property features a six-storey ramp-up logistics facility with a total net lettable area of 56,203 square metres. As of Sept 30, it has an occupancy rate of 85.8% and a weighted average lease expiry of around 1.8 years. Once the acquisition is completed, FLCT’s total logistics and industrial portfolio exposure is expected to rise to 71.5% from 70.9%, and its exposure to Singapore properties will increase to 11.6%.
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