ESR gets 20b yen loan from UOB to fund purchase of land in Yokohama

LOGISTICS real estate company ESR has obtained a 20 billion yen loan from United Overseas Bank to partially fund ESR's acquisition of a plot of land in Yokohama, Japan, to be developed into a billion-dollar distribution centre.ESR Sachiura TMKs are onshore entities incorporated in Japan for the purpose of developing the ESR Yokohama Distribution Centre project, which will be one of the largest master-planned logistics parks in Japan, both organisations said in a joint statement on Tuesday.

Lim Lay Wah, head of global financial institutions group at UOB, said:"At UOB, we are dedicated to providing timely, customised and distinctive financial solutions to meet our clients' needs... We look forward to extending our support to include cash and risk management solutions to assist ESR in optimising its cross-border business operations and cash flow."

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Broker's take: OCBC Investment Research downgrades ESR-Reit to 'hold'OCBC Investment Research has downgraded its recommendation of ESR-Reit to 'hold' due to a rally in the industrial Reit's (real estate investment trust) unit price since the brokerage initiated coverage in December 2018. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Broker's take: OCBC Investment Research downgrades ESR-Reit to 'hold'OCBC Investment Research has downgraded its recommendation of ESR-Reit to 'hold' due to a rally in the industrial Reit's (real estate investment trust) unit price since the brokerage initiated coverage in December 2018. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »