Cambridge – SGX

CAMBRIDGE INDUSTRIAL TRUST ACQUIRES 1 JOO KOON CRESCENT AND 23 WOODLANDS TERRACE FOR A TOTAL OF S$29.208 MILLION

1. Cambridge Industrial Trust Management Limited (the “Manager”), the Manager of Cambridge Industrial Trust (“CIT”), has identified 1 Joo Koon Crescent and 23 Woodlands Terrace (the “Properties”) to be acquired by CIT at a purchase price of S$13,800,000 and S$15,408,000 respectively (collectively known as the “Acquisitions”).

2. In connection with the Acquisitions, RBC Dexia Trust Services Singapore Limited, as trustee of CIT (the “Trustee”), has entered into separate conditional put and call option agreements (the “Option Agreements”) with Yeow Heng Industries Pte Ltd (“Yeow Heng”), and Metform Industries Pte Ltd (“Metform”) respectively, to acquire the two Properties.

3. The Acquisitions are expected to be financed by debt or alternative funding sources in line with the Manager’s capital management strategy in optimizing the funding of the Trust. The above Properties will be accretive to CIT’s distributable income.

4. Information On The Properties (Extracts)

1 Joo Koon Crescent
– Purchase Price: S$13.8 million
– Lease Term: 11 years with 7% rental escalations on the commencement of the fourth, seventh and tenth year.
– DPU Impact: +0.0317 cents

23 Woodlands Terrace
– Purchase Price: S$15.408 million
– Lease Term: 7 years with 5% rental escalations on the commencement of the third,fifth and seventh year. The tenant has an option to extend for another term of 7 years.
– DPU Impact: +0.0317 cents

DPU Impact : Based on simple annualisation on the audited results for the financial period ended 31 December 2006 and the assumption that CIT had purchased, held and operated the respective property for the same annualised period based on long term gearing ratio of 40%.


Source : SGX