Cache Logistics Trust to divest sole property in China for USD12.5 million


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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