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AIMS APAC REIT (AA REIT) said Thursday the target date to complete its acquisition of the property at 315 Alexandra Road in Singapore, initially announced in January 2021, has been extended to 1 July to re-negotiate the terms, possibly including the purchase price, and to obtain regulatory approvals.

Previously, the property was to be sold on a partial leaseback basis, with Sime Darby Property Singapore to lease back 70 percent of the building for at least 10 years, the REIT noted in a filing to SGX. But the seller, Aster (Alexandra), has notified the REIT that a letter of intent has been signed with a new anchor tenant, the filing said.