Singapore-listed Reit CapitaMall Trust (CMT) said it is buying office development, The Atrium@Orchard, for $839.8 million (US$619 million) from the government through its trustee HSBC Institutional Trust Services.
CMT said the total acquisition cost, including purchase price and fees, would be $850 million and would be funded by a mixture of debt and convertible bonds.
The development, of two office towers of seven and 10 storeys, is located at Singapore’s main shopping belt along Orchard Road, CMT said in a statement on Thursday.
It also has some ground floor retail space and is connected to a major train interchange.
Trading in shares of CMT was halted at 1400 (0600 GMT). — REUTERS
Source : Business Times - 22 May 2008
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