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Mingtiandi Username 315 Alexandra Road is located in Singapore’s car showroom strip west of the urban core SGX-listed AIMS APAC REIT on Wednesday announced plans to acquire Sime Darby Business Centre on the western fringe of Singapore’s urban core for S$102 million ($76.6 million) as part of a sale-leaseback deal. Consisting of a five-storey light industrial building with a three-storey annex, the property at 315 Alexandra Road has BMW showrooms on the ground floor and business space in the floors above. “The proposed acquisition marks a first for AA REIT in acquiring a light industrial asset in the city fringe area, where such assets are tightly held amongst owners and investors,” said Koh Wee Lih, chief executive of the REIT’s manager, an affiliate of Sydney-based AIMS Financial Group. “This will be a strategic fit for AA REIT, adding a centrally located and highly coveted light industrial building to the portfolio.”

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