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First REIT Strengthens Growth With $70 Million Indonesia Acquisition
Daily Bulletin | 19 November 2015
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First Real Estate Investment Trust (First REIT) has announced entering into conditional share purchase agreements to acquire the entire share capital of PT Nusa Bahana Niaga, who holds certain rights to Siloam Hospitals Kupang and Lippo Plaza Kupang, for a consideration of $70 million.

The acquisition is believed to present a great opportunity for the trust to further diversify its portfolio across locations with this maiden asset in city of Kupang, East Nusa Tenggara province in Indonesia. The acquisition will expand the trust’s portfolio to 17 properties across Indonesia, Singapore and South Korea, as well as boost its total asset size by 6.84 percent to $1.25 billion.

First REIT  -- -- --   
Business: Co is a healthcare real estate investment trust. [FY17 Geographical] Indonesia (95.7%), Singapore (3.5%), Korea (0.8%).

Insight: Apr-18, 1Q18, Co reported a 0.5% rise in distribut... Read More


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