AIMS APAC REIT to acquire Aljunied property for SGD56.65 million

AIMS APAC REIT (AA REIT) will acquire the Framework Building at 2 Aljunied Avenue 1, Singapore, for a total purchase consideration of about SGD56.65 million.

This consideration comprises a purchase price of SGD45.75 million and a JTC Corporation upfront land premium of up to SGD10.90 million that will be paid by the REIT.

The acquisition is expected to deliver the REIT a net property income yield of 8.1% and a 2.5% distribution per unit accretion for unitholders based on full debt funding.