JSE - Jamaica Stock Exchange Ltd.

12/27/2019 | News release | Distributed by Public on 12/27/2019 16:01

Kingston Properties Limited (KPREIT) – Acquisition in the Cayman Islands

Kingston Properties Limited (KPREIT) has advised that the Company has just completed the acquisition of eight (8) fully tenanted warehouse units in the Rosedale Warehouse Complex located in the industrial belt of the Cayman Islands.

'The purchase was for a consideration of CI$1.6 million. The property maintains a solid tenant base comprised of companies engaged in the construction and distribution industries.

'This acquisition represents KPREIT's second acquisition in the Cayman Islands, an economy projected to grow between 3-4% per annum for the next two years and is part of our strategy to continue to broaden our geographic reach as well as diversify the mix of property types in our portfolio,' KPREIT states.