Lendlease Global Commercial REIT, managed by Lendlease Global Commercial Trust Management Pte. Ltd., announced the completion of the divestment of the office component of Jem for 462 million Singapore dollars on Nov, 12 2025.

After accounting for a divestment fee of about 2.3 million Singapore dollars—payable in units—and professional and other expenses of roughly 2.6 million Singapore dollars, net cash proceeds stand at approximately 459.4 million Singapore dollars. The transaction delivers an estimated net cash gain of around 8.9 million Singapore dollars over the cost of investment.

Management plans to use most of the proceeds to repay existing loans, a move expected to lower the trust’s aggregate leverage ratio from 42.6% as at Jun, 30 2025 to about 35% on a pro-forma basis, and it is also considering distributing the net cash gain to unitholders.

Details of the issuance of the divestment fee units will be provided in a separate announcement.