October 31, 2018
Kingston Properties Limited (KPREIT) has advised that the Company has completed the acquisition of a four-storey, 32,000 square feet commercial building located at 52-60 Grenada Crescent in New Kingston. The purchase now brings to a total of three properties held in Jamaica. The building is fully tenanted with a wide cross section of tenants ranging from law firms, government agencies and a BPO firm.
KPREIT further advised that the property was acquired at a price of $435 million and was financed both by a senior secured loan facility with CIBC First Caribbean Jamaica and the net proceeds of the sale of condos in the US.