AIMS APAC REIT to acquire $56.65m Aljunied Avenue site

The company said the acquisition will enhance its portfolio resilience.

AIMS APAC REIT plans to acquire Framework Building for $56.65m, which includes a $10.9m land premium to be paid to JTC Corporation.

Located at 2 Aljunied Avenue 1, the property is expected to have an income yield of 8.1%, which will translate into a 2.5% distribution per unit accretion based on 100% debt funding.

The company said the acquisition will enhance its portfolio resilience by diversifying the tenant base, improving portfolio occupancy and expanding its exposure to essential industries.

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