ESR REIT’s manager, ESR-REIT Management Ltd., has proposed the divestment of eight non-core industrial properties in Singapore for S$338.1 million, aiming to reduce exposure to assets with short remaining land leases. The divestment is expected to strengthen financial flexibility and support future investments in asset enhancement initiatives, redevelopments, and acquisitions aligned with new economy opportunities. The properties have a weighted average remaining land lease of 22.4 years, and on completion, the portfolio’s weighted average remaining land lease is projected to improve to 44.8 years. ESR REIT is currently trading 1.09% lower at S$2.7100 on the Stock Exchange of Singapore.

Read more at Nasdaq: ESR-REIT Proposes S$338.1 Mln Divestment Of Eight Non-core Assets