AIM Industrial Growth Freehold & Leasehold Real Estate Investment Trust (AIMIRT) has bought a manufacturing facility at WHA Eastern Seaboard Industrial Estate in Rayong in Thailand from Precision Global in a sale and leaseback deal.
Charasrit Atthawetaworawut, CEO of Bangkok-listed AIMIRT, said: “The acquisition of Precision Global’s Rayong facility aligns perfectly with our strategy to invest in high-performing industrial assets in Thailand. This deal provides stable returns and growth potential, underpinned by a strong tenant.”
Thanadet Opasayanon, MD of AIMIRT’s manager AIM REIT Management, added that following the investment in the Precision Valve project, AIMIRT’s total investment property portfolio would reach THB13.5bn (€340m), consisting of 15 real estate projects.
“This is an industrial REIT with a high diversity of asset types and excellent risk diversification, including warehouses, factories, cold storage, and liquid chemical storage tanks.”
Krit Pimhataivoot, country head and head of capital markets, JLL Thailand, whose firm handled the deal, said: ”With many uncertainties in the global economy and tight capital markets - despite declining interest rates in Thailand - we expect the sale and leaseback model to gain popularity as it offers win-win solutions for both occupiers and investors.”
Thierry Bouan, CEO of Precision Global, said: “This transaction reflects our confidence in Thailand as a key hub for our business and our determination to grow through innovation.
“The enhanced financial flexibility will allow us to invest further in developing products and capabilities that serve our global customers.”
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