Viva Industrial Trust snaps up two industrial properties for $122.7m
Both properties were leased back to their vendors.
The Singapore-focused business park and industrial property trust has acquired two properties located at 19 Tai Seng Avenue and 11 Ubi Road 1 for $122.7 million.
The acquisitions will boost the aggregate GFA of Viva Industrial Trust’s portfolio by over 370,000 sq ft to approximately 3.29 million sq ft and raise portfolio value by about 14% to approximately $1.1 billion.
Both properties are leased back to their respective vendors, Home-Fix D.I.Y. and Meiban Investment for 10 years.