FLCT Sells Cross Street Exchange for S$810.8 Million

News about Frasers Logistics & Commercial Trust

Frasers Logistics & Commercial Trust is making a tidy profit by selling it's interest in the Cross Street Exchange property for S$810.8 million, a 28.3% premium to the property book value.

The proposed divestment will also enhance FLCT’s portfolio metrics, with a higher overall portfolio occupancy rate of 97.1% and a longer weighted average lease expiry profile (“WALE”) of 5.0 years, from 96.2% and 4.8 years respectively, prior to the divestment.

Frasers Logistics & Commercial Trust
Price1.260 SGD
NAV1.320 SGD
Yield (4 quarters)6.13%
Gearing29.2%