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Viva Industrial Trust Acquires Two Properties For $122.7 Million
Daily Bulletin | 25 November 2015
By:

Viva Industrial Trust has completed the acquisition of two properties located at 19 Tai Seng Avenue and 11 Ubi Road 1 for a total consideration of $122.7 million.

The purchase consideration for the Tai Seng Property is $42.0 million (excluding an upfront land premium for the balance of the initial 30-year lease term of S$4.4 million) while the purchase consideration for the Ubi Property is $80.7 million (excluding an upfront land premium for the balance of the initial 30-year lease term of $5.4 million). The acquisitions were funded by a combination of a $73.0 million five year term loan facility granted by Hong Leong Finance and the proceeds from the private placement of 52,047,200 new stapled securities which was launched and closed on 18 November 2015.


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