First REIT proposes $471.5m Indonesia asset divestment
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First REIT plans to divest Indonesian assets valued at approximately $471.5 million to reduce currency volatility and leverage, focusing on developed markets. The divestments include eight hospital assets for $389.2 million and two non-hospital assets for $53.3 million. A put option for six remaining hospital assets valued at $294.8 million is also secured. The transactions are expected to lower leverage to 16.7% and generate annual interest savings of $18.8 million. A special distribution of $9.7 million is recommended, pending unitholder approval in June, with completion aimed for August.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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