REIT Financial News - 9 FEB 2010: CMT to acquire Clarke Quay from CapitaMalls Asia for S$268 million

CapitaMall Trust to acquire Clarke Quay from CapitaMalls Asia for S$268 million. See related reports:
Press Release
Announcement
Presentation Slides

Key Points

• CapitaMall Trust to acquire Clarke Quay from CapitaMalls Asia for S$268 million.
• Clarke Quay is an integrated food and beverage, entertainment and lifestyle riverfront development.
• Transaction is expected to be yield-accretive.
• Acquisition targeted for completion by July 2010.
• Assuming the transaction is fully funded by debt, CMT's gearing would be 33.1%.