First REIT to sell Imperial Aryaduta Hotel & Country Club for $25.9m
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First Real Estate Investment Trust (First REIT) plans to sell the Imperial Aryaduta Hotel & Country Club in Indonesia for $25.9 million, representing a 22.2% premium over its original investment. The sale will be conducted through subsidiaries of Perpetual (Asia) Limited to PT Abadi Jaya Sakti and PT Tigamitra Ekamulia. The net proceeds of approximately $25.5 million will be used for debt repayment and corporate needs, aligning with First REIT's strategy of capital recycling and balance sheet strengthening.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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