Link REIT's Metropolitan Plaza iin Guangzhou, China. (Photo: Link REIT)

Asia’s largest REIT, Link REIT, has announced the completion of a divestment which saw it drop 17 properties across Hong Kong from its portfolio.

The properties were sold to a consortium led by Gaw Capital Partners through a competitive sale, for a total consideration of HKD23 billion (USD2.9 billion).

Collectively, the consideration represents a premium of approximately 52% over the properties’ collective appraised value as at 30 September 2017, said the REIT.

Read: Link REIT disposes 17 properties as part of strategic review

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.