Cache Logistics Trust's Spotlight warehouse located at 217 – 225 Boundary Road in Melbourne, Australia (Photo: Cache Logistics Trust)

Singapore-listed industrial REIT, Cache Logistics Trust, is disposing its sole property in China for RMB87.0 million (USD12.5 million)

The property, Jinshan Chemical Warehouse, will be divested via an equity transfer agreement with the purchaser, Chinese company Zhejiang Yongtai Logistics Co Ltd.

As part of the agreement, Cache Logistics Trust will sell its equity interest in CWT Warehousing Transportation (Shanghai) Development, an entity which owns Jinshan Chemical Warehouse.

The property was acquired in June 2011 for RMB71.0 million, and last valued at RMB 77.3 million as at 15 August 2018.

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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.