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Link REIT to sell 7 Hong Kong shopping centers for HK$1.96B

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Link REIT to sell 7 Hong Kong shopping centers for HK$1.96B

agreed to sell seven shoppingcenters in Hong Kong for HK$1.96 billion, exceeding the assets' total appraisedvalue by 33%.

The REITsaid April 11 that six different buyers offered bids to acquire the Hing Man CommercialCentre; Kam Ying Court Shopping Centre; Po Tin Shopping Centre; Tin Ma Court Commercial Centre;and the retail and car park components within Mei Chung Court, Po Nga Court andYan Shing Court.

Ace AmpleHong Kong Ltd., Win Glories Ltd., Hong Yang Investments Co. Ltd., Tung Fai Kee WoodenMaterials Co. Ltd., Capitol Investments Ltd. and Excelskill Ltd. are the buyersof the properties, which had an appraised value of around HK$1.60 billion as ofMarch 31.

LinkProperties Ltd. is acting as the vendor of the assets.

The companyplans to use the net proceeds of around HK$1.94 billion from the transactions forgeneral corporate purposes, including repayment of debt.

LinkREIT expects to complete the disposals May 31.