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Suntec Reit to acquire office building in Sydney for A$297m

Deal expected to be DPU accretive, with an initial net property income yield of 5.5% per annum upon completion

Published Mon, Jul 1, 2019 · 09:50 PM

Singapore

SUNTEC Real Estate Investment Trust (Suntec Reit) has entered into agreements to acquire a freehold Grade A office building in Sydney, Australia, for A$297 million (S$282 million), said the manager of the trust, ARA Trust Management (Suntec), on Monday.

ARA Trust Management (Suntec) holds office and retail assets that include the Suntec City retail mall and convention centre.

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