LMIR Trust completed the acquisition of Puri Mall for $657m.

LMIR Trust, a real estate investment trust, completed the acquisition of Puri Mall, a shopping centre, for $657m. “This acquisition was made possible due to the unwavering support from our Unitholders and also the support for our recent rights issue. We would like to extend our sincere gratitude to our Unitholders for their vote of confidence in the Trust’s strategy to invest in this premier asset that has attractive net property income yield and strong potential for rental reversion and capital appreciation. Most importantly, the injection of this asset is part of a long-term strategic plan to reposition the Trust and anchor it for sustainable growth, and in the short-term, the rental support that comes along with the asset will provide a steady stream of income to Unitholders," James Liew, LMIRT CEO.