Kingston Properties (KPREIT) said it has acquired two buildings located on Duke Street, Kingston.
The real estate company now has number 6, as well as 8 to 10 Duke Street in its portfolio.
The acquisition was done on a sale and leaseback arrangement with Victoria Mutual Building Society and its affiliate, VM Real Estate Holdings.
Kingston Properties says the roughly 60,000 square foot buildings are fully leased.
Additionally, KPREIT closed on the sale of an additional four of the ten commercial units held at the Tropic Centre in the Cayman Islands.
With the acquisition of the Duke Street properties in Jamaica and the sale of the units at Tropic Centre in Cayman, the group's holdings in the Cayman Islands now represent 49.6% of the total portfolio, while the Jamaican holdings represent 43.5%.
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