Frasers Logistics & Commercial Trust (FLCT) is announcing the acquisition of a logistics facility in Tuas, Singapore:

The facility, located at 2 Tuas South Link 1, spans a net lettable area of 56,203 square metres and has an occupancy rate of 85.8 per cent.

The total acquisition cost will be paid in cash and funded through external debt financing, with the purchase price of S$140.3 million reflecting a 2.5 per cent discount from the property’s independent valuation of S$143.8 million, as at Sep 30.