Singapore-listed industrial and business park landlord Viva Industrial Trust has entered into a facility agreement with UOB Limited for a five-year secured term loan facility of SDG22 million (USD14.5 million).
The agreement has been entered into via Perpetual (Asia) Limited, acting in its capacity as trustee of Viva Industrial Trust’s REIT component.
The loan facility is secured over the trust’s property at 30 Pioneer Road.
“The loan facility will be used to partially reimburse the REIT trustee for its cost of purchasing the property”, said Viva Industrial Trust in an announcement on 14 December.
Viva Industrial Trust completed the acquisition of 30 Pioneer Road in a sale-and-leaseback deal with Singapore supply chain company, GKE Warehousing & Logistics, in April 2016.
The property, which features about 280,000 square feet of gross floor area, was acquired for SGD45 million.
Units of Viva Industrial Trust finished the trading day unchanged from its previous close on the Singapore Exchange at SGD0.755.