Frasers Centrepoint Trust (FCT) is set to acquire the South Wing of Northpoint for S$1.17 billion.
Once a premier commercial hub of Alpharetta, the aging North Point corridor received a new redevelopment plan on Monday, the latest in more than a decade-long effort to revive the area.
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The Alpharetta city council approved a plan to create a walkable, mixed-use district in its latest effort to revive the North Point Mall area.
The agreed property value of SGD 1,133 million implies a yield of 4.5%, which is tighter than the 4.75% cap rate of FCT’s existing asset, Northpoint City North ... investor’s point of view.
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