Sold! CapitaLand Commercial Trust Sells Wilkie Edge for SGD 280 Million
CapitaLand Commercial Trust has divested Wilkie Edge for SGD 280 million, at a sizable premium above its book value of SGD 201 million and purchase price of SGD 182.7 million in 2008. The transaction represents a capitalisation rate of 3.4% and is largely in line with the trust's 50% divestment of One George Street in May. Management has previously guided that Wilkie Edge was on the market, and the divestment will provide additional financial flexibility for the trust to repay existing debt and ...CapitaCommercial Trust is a commercial real estate investment trust investing in properties predominantly used for commercial purposes. Through its subsidiary, Co. is engaged in the provision of treasury services, including lending to the Trust the proceeds from issuance of notes under an unsecured multicurrency medium term note program. As of Dec 31 2011, Co.'s portfolio comprised of nine properties including three office buildings, one prime office building, three mixed-use properties, one multi-story car park and an ongoing development for a new office tower, all of which are located in Singapore.
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