Singapore REIT CapitaLand Integrated Commercial Trust (CICT) announced on 2 May that it has entered into an agreement to sell its 45% interest in Glory SR Trust, which holds the serviced residence component of the CapitaSpring integrated development in Singapore's Central Business District.
The serviced residence stake, currently owned through CICT's wholly owned sub-trust CapitaLand Commercial Trust (CCT), will be sold to unrelated third-party purchasers for an agreed property value of SGD280 million on a 100% basis, translating to SGD126 million for CICT's 45% interest.
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