The manager of Soilbuild REIT is buying an industrial property at 2 Bukit Batok Street 23 for $100.5 million. Soilbuild plans to enter into a master lease arrangement with the seller of the property, SB Westview Investment, which is a subsidiary of sponsor Soilbuild Group Holdings.
The lease is for seven years.
SB Westview will pay rent of $8 million in the first year with a step-up of 2% a year.
Eric's view: lease of seven years with rent of $8 million for the first year with a step-up of 2% a year. where to find such good deal? 2 thumb up
