Singapore-listed Viva Industrial Trust (VIT) (SGX:T8B) announced on 14 July that it is exploring the acquisition of a property located at 30 Pioneer Road.
Should the acquisition proceed, VIT will be acquiring the property from GKE Warehousing & Logistics Pte Ltd. “The REIT manager is currently evaluating the proposed acquisition, including exploring the various methods of financing the proposed acquisition", said VIT in an official statement.
VIT is a stapled security comprising of Viva Industrial Business Trust and Viva Industrial REIT. It currently has a portfolio of five industrial properties across Singapore.
“Should the proposed acquisition materialise, it is intended that [Viva Industrial REIT] and [GKE Warehousing] will enter into a master lease agreement pursuant to which the property will be leased back to the [GKE Warehousing]”, said VIT.
Manager for the REIT has however not given an indication as to how much the property is being considered for. “No definitive agreements have been executed, and accordingly, there can be no assurance that the proposed acquisition will proceed”, said VIT.
Units of Viva Industrial Trust are currently listed on the Singapore Exchange at SGD0.79.