Fortune – BT

Fortune Reit to pay additional US$58,000 to acquire Belvedere Garden, Provident Centre

Fortune Reit on Friday said it will pay an additional HK$450,000 (US$58,000) for the acquisition of Belvedere Garden and the Provident Centre properties.

The additional consideration comes after an audit, which brought the final aggregate purchase consideration for the acquisition of the new properties to HK$1,931,779,182.

Fortune Reit had paid the aggregate purchase consideration of HK$1,931,328,352 in cash on February 17.

The further aggregate sum of HK$450,830 is to be paid in cash, on or before June 1, 2012.