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A-Reit buys Aussie assets for A$1.01b

The vendors are GIC real estate arm and Frasers Property Australia
Saturday, September 19, 2015 - 05:50

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At the same time, A-Reit is mulling over capital recycling to keep its aggregate leverage below 40 per cent. When asked whether divestment of existing industrial properties, especially those in Singapore, is on the cards, A-Reit manager's CEO Tan Ser Ping said that there are preliminary discussions.

Singapore

MAKING its foray into Australia, Ascendas Real Estate Investment Trust (A-Reit) is snapping up a portfolio of 26 logistics properties at one go for A$1.01 billion (S$1.02 billion) - a move that will turn the Reit into the eighth largest industrial landlord there.

The

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