SINGAPORE (Oct 11): Saizen REIT will acquire industrial properties in Australia from Sime Darby Property Singapore Limited (SDPSL) as part of its reverse takeover by the latter, says the board of its manager Japan Residential Assets Manager.

The properties to be injected into Saizen REIT are industrial assets in Australia currently held by Hastings Deering (Australia) Limited (HDAL) and are master leased to HDAL.

They comprise 20 industrial properties located in Australia, with 18 properties in Queensland and two properties in the Northern Territory, with total land area of one million square metres.

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