An artist's impression of the Grange Road event space that will be managed by LendLease Global Commercial REIT. (Photo: Lendlease Global Commercial REIT)An artist's impression of the Grange Road event space that will be managed by LendLease Global Commercial REIT. (Photo: Lendlease Global Commercial REIT)

Lendlease Global Commercial REIT (LREIT) has given further elaborations on how its financial metrics will be impacted by acquiring the remaining stake in Jem.

The REIT, which is one the lowest geared among Singapore REITs today, has also responded to further questions from REITsWeek regarding the fall in its net asset value (NAV) per unit.

LREIT announced in February 2022 that it would acquire the remaining stake in Jem, a mixed retail and office asset in western Singapore, at an agreed property value of SGD2,079 million.

Related: Lendlease Global Commercial REIT to acquire remaining stake in Jem


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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.