Key Points
- Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust (“CIT” and the manager of CIT, the “Manager”), is pleased to announce the completion of the acquisition of the property located at 22 Chin Bee Drive, Singapore 619870 (“22 Chin Bee Drive”).
- RBC Dexia Trust Services Singapore Limited, in its capacity as trustee of CIT (the “Trustee”), has today completed the acquisition of 22 Chin Bee Drive from Deluge Fire Protection (S.E.A.) Pte Ltd pursuant to a put and call option agreement dated 12 August 2010 entered into between the Trustee and Deluge Fire Protection (S.E.A.) Pte Ltd.
- Chin Bee Drive, which was completed in 2008, comprises two levels of warehousing facilities and a mezzanine level of office space, a six-storey ancillary office and a five- storey annex comprising a workers’ dormitory. It is located in the west of Singapore and is accessible via the Ayer Rajah Expressway and the Pan Island Expressway.
- Further to the announcement dated 12 August 2010 in relation to the private placement of 83,683,000 new Units at an issue price of S$0.478 per Unit (the “Private Placement”), the Manager wishes to announce that S$10.0 million of the net proceeds from the Private Placement has been utilised for the part payment of the purchase price for 22 Chin Bee Drive and estimated acquisition costs.
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