Mainboard-listed ARA Asset Management and CWT said their joint venture REIT has obtained a letter of eligibility to list its units on the Singapore Exchange (SGX).
The joint venture REIT, called Cache Logistics Trust or CLT, will invest principally in logistics properties in the Asia Pacific region.
It will be managed by ARA-CWT Trust Management, which is 60 per cent owned by ARA and 40 per cent by CWT.
CLT will have an initial portfolio of six high quality logistics properties located in Singapore valued at about S$730 million.
It will also have a right of first refusal to acquire logistics properties in the Asia-Pacific region owned by CWT and its substantial shareholder, C&P Holdings.
Source : Channel NewsAsia – 8 Feb 2010
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