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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Viva Industrial Trust completes acquisition of two properties

A third acquisition is in the works.

Viva Industrial Trust has completed the acquisition of two properties located at Tai Seng Avenue and Ubi Road 1.

VIT has also entered into a put and call option agreement for the acquisition of a third property located at Pioneer Road, which is expected to be completed in the first quarter of 2016.

These acquisition will boost VIT's portfolio value to $1.2b, the group said in a release.

"With the acquisition of three additional properties, VIT will not only see additional rental income coming on stream in 2016, but will also benefit from an immediate positive impact on its portfolio’s occupancy, weighted average lease expiry (by rental income) and tenant mix," said Wilson Ang, CEO of Viva Industrial Trust Management Pte Ltd, the manager of VIT.

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