ESR-Logos REIT to sell noncore assets
The manager of ESR-Logos REIT (E-LOG) has plans to sell its noncore assets with the goal of recalibrating the portfolio toward modern, in-demand, quality and scalable assets which are freehold or have longer land tenures, according to a statement from the firm.
As part of its recalibration strategy, noncore assets have been identified for divestment during the next 12 months to 24 months to recalibrate the portfolio and unlock further value. Divestment proceeds may be used to pare down debt or redeployed toward higher quality New Economy assets.
Recently, E-LOG completed the divestment of 3 Sanitarium Drive, Berkeley Vale, Australia, for A$55.0 million ($38.3 million).