Lippo Malls Indonesia Retail Trust to acquire 2 malls for S$110 mil; First REIT snaps up hospital component

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SINGAPORE (Oct 16): Lippo Malls Indonesia Retail Trust (LMIRT Trust) and First Real Estate Investment Trust (First REIT) are jointly acquiring an integrated development in Jogjakarta for a consideration of Rp 834.6 billion (S$88.1 million).

The Jogyakarta property comprises a hospital component known as Siloam Hospitals Yogyakarta (SHYG) and a retail mall component known as Lippo Plaza Jogjakarta (LPJ).

The considerations attributable to SHYG and LPJ are S$27 million and S$61.1 million respectively. Including value-added tax and acquisition fees to be paid in LMIRT units, the cost attributable to LMIRT is S$68.4 million... (Click here to read the full story.)