Ascendas REIT acquires two Aussie properties for $173 mil

SINGAPORE (Sept 9): Ascendas Real Estate Investment Trust (Ascendas REIT), has acquired two Australian properties for A$168.2 million ($173.2 million), says its manager Ascendas Funds Management (S).

One is a business park property located at 197-201 Coward Street, Mascot, Sydney costing A$143.4 million from Frasers Property Australia while the other is a yet to be completed logistics property called Stage 4, Power Park Estate at Dandenong South, Melbourne, for A$24.8 million, from Goodman Dandenong Trust.

The annualised pro forma financial effect of the acquisitions on FY15/16 distribution per unit would improve to 15.374 cents.

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