Kingston Properties Limited (KPREIT) in a recent disclosure through the Jamaica Stock Exchange on Monday, August 28, 2023, announced the closure of a deal that saw them making a profit on the sale of a portfolio property at 7 Dumfries Road in Kingston.
The mentioned property was acquired in 2021 at a cost of US $1.2 million and was sold for US $1.6 million in net transaction costs.
KPREIT in their recent financial year had a successful oversubscribed APO (Additional Public Offering) which saw applicants receiving 100% of their allocation from the 200,000,000 (Two Hundred Million) new ordinary shares that were on offer.
These new shares were offered at a subscription price of $7.50 and raised $1.55 Billion JMD from 2500 Applicants.
Since then the company has acquired a second multi-family purchase in in Atlanta as it aims to broaden its reach into new markets.
