OUE Commercial Gives a Hard Pass on US Bank Tower Sale

News about OUE Commercial REIT

OUE Limited, the sponsor of OUE Commercial REIT (OUE-C), has sold the US Bank Tower in Los Angeles for a US$430 million sum. While OUE-C had a right of first refusal on the property (which is also sold below the 31 Dec 2019 valuation by the seller), it has decided not to exercise it, declaring that the transaction would not have been yield accretive.

OUE Commercial REIT
Price0.300 SGD
NAV0.600 SGD
Yield (4 quarters)6.97%