Forterra Trust is set to divest itself of its Central Plaza property in Shanghai for US$266.73mil. It expects net cash proceeds of about US$127.3mil with an estimated gain of about $21.5 million. The gross sale proceeds will be used to repay about US$120mil in debt and cut annual interest expense at Forterra by 15%. The trust expects NAV to improve nine cents to $4.53 per unit.

Source: The Business Times / Bloomberg / Straits Times