Ascendas REIT completes $26.5 mil acquisition of Melbourne logistics property

SINGAPORE (April 3): Ascendas Fund Management, the manager of Ascendas REIT, today announced completion of the REIT’s acquisition of Stage 4, Power Park Estate in Melbourne, Australia, from Goodman Dandenong Trust for a purchase consideration of A$24.8 million ($26.5 million).

Stage 4, Power Park Estate is a single-story logistics property located within the Power Park Industrial Estate in the established industrial suburb of Dandenong South.

In a Monday announcement, the manager says that the acquisition’s total cost amounts to A$25.6 million including transaction costs of A$0.8 million, which includes stamp duty, professional advisory fees, and the acquisition fee payable to the manager of about A$248,000.

---

Related Stories

• City Developments’ acquisitions likely to top $2 bil this year with Xintiandi purchase
• ESR-LOGOS REIT makes a bigger push into Japan
• E-LOG's DPU falls by 18.6% in 1HFY2024 following 2023 divestments, plans two acquisitions

---