on 26 September 2017, Sunlight Real Estate Investment Trust (through King Firm, a special purpose vehicle wholly-owned and controlled by Sunlight REIT) entered into the Sale and Purchase Agreement with the Vendor (which is an Independent Third Party), pursuant to which the Vendor agreed to sell, and King Firm agreed to purchase, Fung Shun Commercial Building at the Consideration of HKD 658,000,000. The subject property consists of the whole building currently known as "Fung Shun Commercial Building" situated at No. 591 Nathan Road and No. 13 Changsha Street, Mong Kok, Kowloon, Hong Kong. The Appraised Value of Fung Shun Commercial Building at 12 September 2017 was HKD 660,000,000. The Consideration represents a discount of approximately 0.3% to the Appraised Value. Upon Completion, the Vendor shall lease back the entire subject property, which comprises the Office Portion and the Retail Portion, for fixed terms of 1 year and 4 years respectively, and an option shall be granted to the Vendor to renew the lease for the Office Portion for a further term of 1 year.