Frasers Centrepoint unit to raise A$112m from Aussie asset sale
As part of the divestment, it'll also sell its entire stake in APT Logistics Trust to a subsidiary entity of A-Reit
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Singapore
FRASERS Property Australia Pty Ltd (FPA), a wholly owned subsidiary of Frasers Centrepoint Ltd, will raise about A$112 million (S$112.4 million) from the sale of its stake in its Australian logistics portfolio to Ascendas Real Estate Investment Trust (A-Reit).
The assets are part of the A$1.01 billion acquisition that A-Reit announced last week, which includes property wholly owned by GIC as well as property held as a joint venture between GIC and FPA.
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