Goola Warden Wed, May 25, 2022
ESR-LOGOS REIT’s manager announced that it has entered into an agreement to divest 3 Sanitarium Drive, Berkeley Vale, New South Wales, Australia to Australasian Conference Association Limited for $53.4 million (A$55.0 million) (excluding divestment costs and applicable goods and services tax). The agreed sale price represents an 18.5% premium to the fair value of the property of $45.1 million (A$46.4 million) and is 61.8% above its purchase price of $33.0 million (A$34.0 million). The net proceeds from the divestment will be deployed to repay outstanding borrowings, finance upcoming asset enhancements and/or fund general working capital requirements.