Edition:
United Kingdom

ESR-REIT Enters JV Through PTC Logistics Hub LLP With Poh Tiong Choon Logistics


Monday, 17 Jun 2019 

June 17 (Reuters) - ESR-REIT ::ENTERED INTO A JOINT VENTURE THROUGH PTC LOGISTICS HUB LLP WITH POH TIONG CHOON LOGISTICS.PTC LOGISTICS HUB LLP ENTERED A PUT AND CALL OPTION AGREEMENT WITH POH TIONG CHOON LOGISTICS TO ACQUIRE LEASEHOLD INTEREST OVER A PROPERTY.CONSIDERATION FOR PROPERTY IS S$225.0 MILLION, EXPECTED TO BE FUNDED VIA S$40.2 MILLION BY PTC, S$38.6 MILLION BY TRUSTEE, & DEBT OF S$146.2 MILLION BY LLP.TOTAL ACQUISITION COSTS ATTRIBUTABLE TO ESR-REIT IS S$44.4 MILLION. 

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