TREIT unitholders approve additional investment in Ticon properties
The unitholders of Ticon Freehold and Leasehold Real Estate Investment Trust (TREIT) have approved the additional investment in 12 warehouses and factory units of Ticon Group worth approximately Bt470 million.
The new investment will include the land and warehouse facilities of Ticon Logistics Park Co Ltd (TPARK) as well as land and factory facilities of Ticon Industrial Connection Plc (TICON). It will be financed by a loan.
“The addition of these assets is part of our growth strategy for TREIT, which will result in potentially greater returns for unitholders in their first year. These assets also represent good long-term investments and an increase in the trust’s total asset value,” said Amorn Chulaluksananukul, managing director of Ticon Management as the manager of the trust.
TREIT’s existing investments are rental warehouses and factories under Ticon Group’s ownership and management, with a freehold-leasehold ratio of 70:30. The trust has so far invested in 45 units of these assets, with 214,523 square metres of leasable space on 306 rai of land. These units include 25 warehouses with 160,523 square metres of space and 20 factories with 54,000 square metres of space, all spread across the logistic strategic locations in 5 industrial estates and 6 industrial developments.
