Wednesday, December 19, 2012
Cambridge Industrial Trust
Cambridge Industrial Trust: enters into a 60/40 partnership to acquire 3 Tuas South Ave 4, its maiden property in the JTC Tuas Biomedical Park. Cambridge’s effective share of consideration is $9m. The purpose built 3-storey warehouse, mnftg and distribution facility, has a gfa of ~316k sf and is situated on land area of 643k sf. Upon completion of acq, the property will be leased to Agila, the specialties division of global pharmaceutical co Strides Arcolab, for a period of 25 yrs. The will raise Cambridge’s wt avg lease expiry (WALE) from 3 yrs to 3.3yrs. The trust offers 7.1% yield, trades at 1.1x P/B.