United Hampshire US REIT to Sell BJ's Quincy for $34 Million
MT Newswires08-18 12:05
United Hampshire US Real Estate Investment Trust (SGX:ODBU), through its subsidiary, has agreed to sell its property, BJ's Quincy, to 200 Crown for $34 million, according to a Thursday filing to the Singapore stock exchange.
The loss on divestment based on the book value of the property of $33.7 million is estimated at $400,000, after taking into account the transaction-related expenses of approximately $700,000.
The company plans to use the net proceeds from the divestment to repay existing debts, finance capital expenditure, fund potential acquisition opportunities, and for other general corporate requirements.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
