Paragon REIT divests The Rail Mall for $78.5m

Proceeds will be used to reduce the property's outstanding debts.

Paragon REIT has divested The Rail Mall for $78.5m, from a valuation of $62.0m as of December 2023.

Net proceeds from the divestment will be used to reduce outstanding debt obligations associated with The Rail Mall, whilst the remainder will be shared as a special distribution to unitholders at $0.0185 per unit, payable on 7 October.

Distribution per unit (DPU) for H1 2024 stood at $0.0232. The special distribution will bring the DPU for year-to-date FY2024 to $0.0417.

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