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Lendlease Global Commercial REIT To Acquire Remaining Interest In JEM

Lendlease Global Commercial REIT To Acquire Remaining Interest In JEM

February 16, 2022 – Lendlease Global Commercial REIT announced that it proposes to acquire the remaining interests in the property known as Jem, located at 50 and 52 Jurong Gateway Road, Singapore.

The proposed acquisition will be via (a)  an acquisition of the Property and (b)  an acquisition of 13.05% of the total issued share capital in Lendlease Asian Retail Investment Fund 3 Limited (ARIF3, and 13.05% of the total issued share capital in ARIF3, the ARIF3 Sale Shares) (the ARIF3 Share Acquisition).

The purchase consideration is at S$2.079 billion for the Property and approximately S$116 million for the ARIF3 Sale Shares. ARIF3 holds a 75.0% indirect interest in the Property.

The Property is an integrated office and retail asset located in Jurong Gateway, the commercial hub of the Jurong Lake District. It is situated next to the Jurong East Mass Rapid Transit station and bus interchange.

Read more here..

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