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First REIT completes acquisition of integrated property in Indonesia at $28.5 mil

By Angela Teo

/ EdgeProp |

October 11, 2017 5:37 PM SGT

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On Oct 10, the manager of First REIT announced that the trust has completed the acquisition of an integrated property at Buton Island, Indonesia, at $28.5 million, excluding value-added tax.

The Buton Island property comprises the 160-bed Siloam Hospitals Buton, which has a total gross floor area (GFA) of 116,208 sq ft, and a connected retail mall, Lippo Plaza Buton, which has a total GFA of 119,889 sq ft.

Located in Bau Bau city, the main city on Buton Island in Southwest Sulawesi, the property is about 2km from Port Murhum, according to First REIT.

Source: First REIT

Following the acquisition, First REIT’s portfolio now comprises 19 properties across Indonesia, Singapore and South Korea.

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