Indonesia-focused retail REIT, Lippo Malls Indonesia Retail Trust (LMIRT), is acquiring a 115,000 square-metre property in Jakarta for IDR3.7 trillion (USD260 million).
The property, Puri Mall, is being acquired from PT Mandiri Cipta Gemilang, a wholly-owned subsidiary of the REIT’s sponsor, PT Lippo Karawaci.
The property comprises two eight-storey buildings and two lower ground floors, and will be the REIT’s largest acquisition to date in terms of net lettable area.
To read the full article, please login or subscribe.