United Hampshire US Real Estate Investment Trust (SGX:ODBU), through its subsidiary, has agreed to sell its property, BJ's Quincy, to 200 Crown for $34 million, according to a Thursday filing to the Singapore stock exchange.

The loss on divestment based on the book value of the property of $33.7 million is estimated at $400,000, after taking into account the transaction-related expenses of approximately $700,000.

The company plans to use the net proceeds from the divestment to repay existing debts, finance capital expenditure, fund potential acquisition opportunities, and for other general corporate requirements.