CapitaLand Commercial Trust Sells Building for S$516 Million

in Company news

CCT is selling Twenty Anson, an office building in Singapore, for S$516 million. The transaction, expected to be completed in Q3 2018, is done at 19% above the valuation done on December 31, 2017.

CCT said that on a pro-forma basis, the impact of its divestment on its distributable income is expected to be neutral as loss of net property income would be offset by interest savings from loan repayment.