247 views
Photo from Prime US REIT

Prime US REIT divests One Town Center to Miles Capital for US$82m

It sold the property below its valuation.

Prime US REIT has divested One Town Center in Boca Raton, Florida, to Miles Capital for US$82.0m.

The price consideration is slightly lower than its valuation of US$84.8m.

The divestment will reduce the REIT's aggregate leverage to 45.5% from 48.4% on a pro forma basis post-completion. 

The divestment will also provide immediate additional liquidity to the manager, allowing it to operate the portfolio with greater financial flexibility.

The REIT expects to complete the divestment in July.

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.
Choosier Asia buyers steer auctions toward rare art
Collectors are bidding harder for works with clear ownership histories.