SINGAPORE (Sept 12): The Straits Trading Company announced on Tuesday its subsidiary, Straits Real Estate, will acquire portfolio of logistics properties across Australia via the subscription for 80% of the issued units in ILP No. 1 Trust for a total sum of A$40.1 million ($39.3 million).

The trust, through its indirect wholly-owned subsidiaries, owns a distribution facility in Port Adelaide, South Australia. It will also be assigned a land sale contract for the acquisition of a freehold redevelopment property located in Kilkenny, South Australia.

Established in Australia, ILP No. 1 Trust is an 80%-owned subsidiary of SRE Australia Industrial 1, which in turn is an indirect wholly-owned subsidiary of Straits Real Estate.

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