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A-Reit buys Aussie assets for A$1.01b

The vendors are GIC real estate arm and Frasers Property Australia

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Published Fri, Sep 18, 2015 · 09:50 PM

    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 combined portfolio is said to be about 90 per cent owned by the real estate arm of GIC and some 10 per cent owned by Frasers Property Australia (the former Australand).

    ascendas reitGIC

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