The Rail Mall, a property that will be acquired by SPH REIT. (Photo: Google Maps)

Paragon REIT is divesting its asset known as The Rail Mall for SGD78.5 million.

The asset was acquired by the REIT, which was then known as SPH REIT, for SGD63.24 million in June 2018.

It consists of 43 shop units with a total net lettable area of 49,886 square feet.

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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.