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AA Reit to buy Gold Coast industrial property for A$38.5m

Assuming the transaction will be fully funded by debt, AA Reit's aggregate leverage increase to 35.5%

Published Wed, May 15, 2019 · 09:50 PM

Singapore

AIMS Apac Reit (AA Reit) is expanding its footprint in Australia with a A$38.46 million (S$36.92 million) acquisition of a freehold industrial facility in Gold Coast.

In a statement on Wednesday, its manager noted that AA Reit has entered into a sales and purchase contract with GSM Rocket Australia to purchase Boardriders Apac HQ, in the suburb of Burleigh Heads, Queensland.

The property is acquired with a headline yield of 7.8 per …

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