Link Reit confirms S$239.5 million acquisition of 50.1% stake in Eastpoint Mall

Résumé détaillé

Income Insurance to retain 49.9% interest; both parties to undertake refurbishment works

Income Insurance to retain 49.9% interest; both parties to undertake refurbishment works

[SINGAPORE] Hong Kong-listed Link Real Estate Investment Trust (Reit) will acquire a 50.1 per cent stake in Eastpoint Mall from Income Insurance for S$239.5 million.

The announcement on Tuesday (Nov 10) confirms an earlier report by The Business Times that Link Reit was in talks to acquire a partial stake in the suburban mall.

Income Insurance will retain the remaining 49.9 per cent stake in the property, while Link Reit will take over as the mall’s asset and property manager.

The transaction is expected to be completed in the first quarter of 2027. Link Reit will fund the acquisition through internal resources and debt facilities.

Located next to Simei MRT station, Eastpoint Mall has about 214,000 square feet of net lettable area.

Link Reit and Income Insurance will also undertake a phased asset enhancement initiative, with works expected to start in 2027. The mall will remain open throughout the refurbishment works.

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Following the completion of the deal, Link Reit will manage three retail assets in Singapore: Eastpoint Mall, Jurong Point Mall and AMK Hub, which it manages on behalf of Mercatus Co-operative, the real estate investment arm of NTUC Enterprise Co-operative.

Début de l'article, extrait de The Business Times. Pour lire la suite, ouvrez l'article chez le média.