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Frasers Logistics & Industrial Trust acquires 2 call option properties for $71 mil

PC Lee Published on Thu, Sep 01, 2016 / 7:32 AM GMT+8

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SINGAPORE (Sept 1): Frasers Logistics & Industrial Trust (FLT) is acquiring two call option properties in Melbourne and Brisbane for a total consideration of A$69.2 million ($71.2 million).

The acquisitions will enhance FLT’s income stream stability and will be accretive to Distribution Per Unit (DPU), says manager Frasers Logistics & Industrial Asset Management.

On a pro-forma basis, DPU for the three months ended Dec would have increased to 1.39 cents with the acquisitions compared to 1.36 cents.

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