Jamaican real estate investment trust, Kingston Properties Limited (KPREIT), said in a stock market disclosure last week that it has reached an agreement to purchase the Red Hills Road properties of Henkel Jamaica Limited properties, a deal that will add a third property to the real estate investment trust's portfolio of assets.
The stock, the only one of its class listed in Jamaica and the Caribbean, last traded on the Kingston exchange at J$3.75 million, valuing the company at J$258 million. KPREIT's investment in properties acquired to date totals J$419.9 million.The company said it would not disclose the value of the Henkel Jamaica property acquisition until the close of the transaction, which is expected by the end of July.