Lendlease Global Commercial REIT Completes Acquisition of 70% Stake in PLQ Mall
MT Newswires
Nov 27
Lendlease Global Commercial REIT (SGX:JYEU) completed the acquisition of a 70% stake in PLQ Mall through the acquisition of units in PLQM Trust and 70% of its trustee-manager, according to a Thursday filing with the Singapore Exchange.
The acquisition was partly financed with proceeds from an SG$280 million private placement, of which approximately SG$234.5 million has been used.
Lendlease said it will use the remaining proceeds of about SG$45.5 million to pay professional and other fees related to the acquisition and private placement, as well as to reduce existing debt.
Shares of the REIT were up nearly 2% in Thursday trading.
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