CTP agrees to buy SLP Vietnam portfolio and operating platform for about US$500 million
ARES•CTP agreed to acquire SLP’s Vietnam property portfolio and operating platform from Ares Management for about US$500 million. The deal covers seven existing assets and six development sites, with the acquisition expected to close in the coming months subject to conditions including regulatory approvals.
1. Portfolio details
The seven existing assets total 504,000 square meters and generate more than US$23 million in stabilized annual net operating income. Six development sites could add 585,000 square meters and contribute an additional US$33.8 million in annual net operating income upon completion.
2. Expected closing
The acquisition is expected to close in the coming months, subject to agreed conditions, including regulatory approvals.
