Sabana REIT Sells Data-Centre Property

in Company news

Sabana REIT entered into a conditional sale agreement to dispose of a property in Tai Seng, Singapore. The Geo-Tele Centre will be purchased by Ascendas-Singbridge for S$99.6 million, S$60 million above its book value.

proceeds from the sale will go to the repayment of Sabana Reit's outstanding borrowings, and could also be redeployed for projects such as redevelopments or acquisitions, said the manager in its announcement