CapitaLand Ascendas REIT (SGX:A17U) is proposing to divest a logistics property in Queensland, Australia, for SG$90 million, according to a Tuesday filing with the Singapore Exchange.
The property, 95 Gilmore Road, which has a total gross floor area of 41,319 square meters, is being sold at a 9.5% premium over its independent market valuation.
Net proceeds from the divestment will be used to finance investments, paying down debt, extending loans to subsidiaries and to fund general corporate and working capital needs.
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