October 15, 2020
Kingston Properties Limited (KPREIT) has advised that the Company has completed the acquisition of an 88,000 SF warehouse property on just under four (4) acres of land in Kingston’s Industrial belt. The purchase was funded from cash resources for a consideration of $607.5 million on a sale and leaseback basis.
The acquired property is located on East Ashenheim Road and has moved the concentration of assets in Jamaica to 47% with the Cayman Islands and the US at 41% and 12% respectively.
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