Elite UK REIT to Acquire Five Government-Leased UK Assets

MT Newswires

06/16

Elite UK REIT (SGX:MXNU) agreed to acquire five UK government-leased properties for 31.9 million pounds, according to a Tuesday filing with the Singapore Exchange.

The five properties have a combined area of 364,048 square feet.

The deal, conducted through its subsidiary, Elite Kist, will expand the trust's portfolio weighted average lease expiry to 7.6 years.

The REIT will fund the acquisitions through a mix of bank borrowings and a private placement exercise, the filing added.

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