Special Advisory: Kingston Properties Limited (KPREIT)

Kingston Properties Limited (KPREIT) has advised that a total of USD4.5M was spent on its recent acquisition of two properties in Jamaica and the Cayman Islands, bringing the total number of properties held to thirty. The acquisition was financed using bank debt from institutions in the US, Jamaica and the Cayman Islands in both USD and JMD. KPREIT further advised that rates on the USD facilities ranged between 3.25% p.a. and 4% p.a. while the rate on the JMD facility was 9.85% p.a.