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Singapore-listed Starhill Global REIT in an SGX filing on Thursday (7 January) announced that its manager has completed the divestment of its Roppongi property for 2.5 billion yen (S$30.29 million).
Roppongi Terzo, located in the Roppongi district in Minato-ku, Tokyo, was last valued at 2.44 billion yen (S$29.6 million). It accounts for 32.8 percent of the REIT’s Japan portfolio and 0.9 percent of the REIT’s asset value.
“The sale consideration translates to a yield of 4.4 percent,” the REIT said.
“This divestment marks the third divestment in Japan in the last three years and is part of our ongoing strategy to streamline our overall portfolio and focus on our strengths,” said YTL Starhill Global chief executive officer Ho Sing. “Going forward, we will continue to sharpen and improve the quality of our portfolio through divestments, acquisitions and asset enhancement initiatives.”
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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