Lendlease Reit Acquires Remaining 70% of PLQ Mall for S$246.8 Million

Lendlease Global Commercial REIT to acquire 70% of PLQ Mall

Lendlease Global Commercial REIT (LREIT) is set to acquire a 70% indirect stake in PLQ Mall for a total equity consideration of $234.3 million. The acquisition will be made through the purchase of 70% of the issued units in PLQM Trust, which wholly owns the mall. The agreed property value stands at $885.0 million, or $2,789 psf on the property’s net lettable area (NLA) of 317,350 sq ft. It represents a 2.1% discount to the appraised value of $90…

Lendlease Reit acquires remaining 70% of PLQ Mall for S$246.8 million

Deal will be financed by proposed private placement of units priced at S$0.597 to S$0.616 each

Lendlease REIT to Acquire 70% of PLQ Mall to Expand its Suburban Retail Portfolio in Singapore

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