Lendlease Global REIT Buys Remaining Stake in Jem Mall

News about Lendlease Global Commercial REIT

Lendlease Global REIT will be taking over full ownership of the Jem mall (Singapore) at a valuation of S$2.079 billion for the property. The trust currently owns an indirect stake of 31.8% of the asset.

Laying these out in a late night bourse filing on Monday (Feb 14), the manager said the transaction, which is expected to provide 10.5 per cent distribution per unit (DPU) accretion, could be completed by as early as May 15 this year, if all goes to plan.

Part of the operation will done via an equity fund raising exercise.

Lendlease Global Commercial REIT
Price0.775 SGD
NAV0.810 SGD
Yield (4 quarters)6.12%
Gearing27.7%