Ally Leasehold Real Estate Investment Trust completed the acquisition of The Prime Hua Lamphong Project.
February 31, 2022
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Ally Leasehold Real Estate Investment Trust (SET:ALLY) agreed to acquire The Prime Hua Lamphong Project for approximately THB 170 million on October 19, 2021. The acquisition is financed from a Loan from BBL of THB 171.8 million, the total size of loan not more than THB1.26 billion (existing loan). The transaction is subject to board approval, There are no unresolved issues from legal due diligence or in case there is any pending legal issue which is unresolved or cannot be rectified, the REIT Manager will disclose such risk, On the acquisition date, any mortgage or collateral registered over the additional assets will be released (if any), The Trustee has certified that the REIT's acquisition of additional assets complies with the Trust Deed and relevant laws, rules and regulations, The investment committee of Trustee approves of the REIT's acquisition of additional assets, entering into loans, and other matters required for the completion of the additional assets acquisition (within November 2021) and The Board of Directors of Trustee approves of the REIT's acquisition of additional assets, entering into loans, and other matters required for the completion of the additional assets acquisition, within November 2021. The Prime Hua had total asset value, as of 30 September 2021, of THB 12.5 billion.The transaction is approved of the Board of Directors. Transaction is expected to be completed by January 2022. As of December 3, 2021, the transaction is expected to close in the first quarter of 2022.
K.E. Property Management Company Limited acted as property manager. Year Appraisal Co.,Ltd. and KTAC Appraisal and Service Co.,Ltd acted as appraiser.
Ally Leasehold Real Estate Investment Trust (SET:ALLY) completed the acquisition of The Prime Hua Lamphong Project on February 01, 2021.
ALLY Leasehold Real Estate Investment Trust (the Trust) is a Thailand-based diversified real estate investment trust. The Trust's investment policy is to invest in core assets, which comprises all types of freehold and leasehold real estate and assets that are components, machinery or equipment of the aforementioned assets, such as shopping mall, department store, community hall and other commercial space, including other commercial properties, such as convention hall, office building, commercial building, exhibition hall, warehouse and storage thatâs supports other properties which the Trust invests in, parking building, wholesale/retail market and other properties, including commercial property and other property that is relevant or supportive of real estate rental business and business that supports the Trust's investment. K.E.REIT Management Company Limited serves as a Trust's manager and SCB Asset Management Company Limited acts as a trustee.