First REIT Sells Surabaya Hospital

News about First REIT

First REIT is announcing the sale of one of its Indonesian Hospital, Siloam Hospitals Surabaya, for about S$40.9 million. The buyers are PT Siloam International Hospitals and PT Megapratama Karya Bersama (a subsidiary of Siloam as well).

The property was part of its original portfolio when the trust listed in 2006 and was, according to the trust's 2021 annual report, appraised for the same amount. The manager is not providing any pro-forma projections on the impact of the transaction.

First REIT
Price0.245 SGD
NAV0.340 SGD
Yield (4 quarters)10.78%
Gearing35.6%