First REIT Gives Acquisition a Pass

News about First REIT

First REIT has decided to not exercise its right of first refusal on a West Java hospital property offered by PT Lippo Karawaci:

The Manager has considered the opportunity and has decided not to exercise the right of first refusal under the ROFR Deed to acquire the Property. The Property consists of a public hospital building that does not meet First REIT’s prevailing investment strategy and criteria

First REIT
Price0.275 SGD
NAV0.340 SGD
Yield (4 quarters)9.60%
Gearing35.6%