Saizen divests Escort South 11

Saizen divests Escort South 11:

• Press Release

Key Points

• YK Shintoku has, on 11 April 2011, entered into a conditional sale and purchase agreement for the divestment of Escort South 11 to an independent private investor for a cash consideration of JPY 45,520,000 (S$0.7 million).
• ES, located in Sapporo, was built in March 1992 and comprises 10 residential units. 
• It contributed about 0.3% (or approximately JPY 11.9 million) of Saizen REIT’s annual revenue in the financial year ended 30 June 2010 (“FY2010”).
• Given the small size of ES relative to the entire portfolio of Saizen REIT, the Current Divestment is not expected to have any material impact on the financial position of Saizen REIT.

Related Posts

• Saizen Reit Divests of Club House Kikugaoka
• Saizen Reit - Divestment of Johnan Building III and Wealth Meinohama
• Saizen Reit divests of Jewel Town Suehiro - 10 NOV 2010
• Saizen Divests Kamei Five from the property portfolio of YK Shintoku - 21 OCT 2010
• Saizen divests 3 properties - 14 OCT 2010
• Saizen Reit divests Villa Kaigancho - 8 OCT 2010
• Saizen completes divestment of Patios Ohashi - 30 SEP 2010
• Saizen divests four properties - 29 SEP 2010