SINGAPORE, Oct 31 (Bernama-GLOBE NEWSWIRE) — Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), the manager of Lendlease Global Commercial REIT (“Lendlease REIT”), announces its first quarter business updates for FY2026.
Jem office divestment nears completion
The condition precedent for the divestment of Jem office has been fulfilled, and the transaction is expected to complete by 12 November 2025. Upon completion, the net sales proceeds will be predominately used to repay borrowings, lowering aggregate leverage to approximately 35% on a proforma basis, and terminate associated hedges. A disposal gain of approximately S$8.9 million1 will also be available for distribution to Unitholders.