Frasers Logistics & Commercial Trust (SGX:BUOU) (FLCT) will divest its ownership in three leasehold industrial properties in South for A$29.6M, its Manager announced on 10 December, in line with the FLCT’s proactive asset management and portfolio rebalancing strategies. At a 19.4% premium to the properties total book value of A$24.8 million (as at 30 September 2020), the divestment is also above the total original purchase consideration of A$28.7 million, valued at FLCT’s initial public offering in 2016. Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, “The proposed divestments of three non-core leasehold properties in South Australia, with an attractive premium relative to market value, is part of our proactive asset management strategy and in line with our continuing focus on core industrial markets on the eastern seaboard of Australia. The divestment proceeds will also provide us with greater financial flexibility to manage FLCT’s capital.”