OUE C-REIT Selling Half of OUE Bayfront

News about OUE Commercial REIT

OUE C-REIT is selling a 50% stake in the OUE Bayfront in Singapore's CBD to an Allianz entity for a value of S$1.27 billion:

The S$1.27 billion sale price commands a 7.6 per cent premium over this valuation and exceeds the property's purchase consideration of S$1 billion by 26.1 per cent.

The manager expects the divestment to lower the trust gearing ratio from 40.3% to 33.6% pro-forma.

OUE Commercial REIT
Price0.265 SGD
NAV0.600 SGD
Yield (4 quarters)7.89%