The completion of the deal is slated for the first quarter of 2025.
Following this, DHL USA will enter a long-term leaseback of about 11 years till December 2035 of the property's entire gross floor area (GFA) of about 979,649 sq ft.
The agreement will come with options to renew for two additional five-year terms.
On Dec 17, Clar's manager said this would represent the real estate investment trust's (Reit) first sale-and-leaseback acquisition in the US.
Its executive director and chief executive William Tay said the acquisition would increase Clar's US logistics portfolio value by 35.3 per cent to $587.5 million, with a total estimated GFA of 5.1 million sq ft.
Denne historien er fra December 18, 2024-utgaven av The Straits Times.
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Denne historien er fra December 18, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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