Hong Kong's Link to buy retail properties in Sydney for about $400 mln

Link Real Estate Investment Trust

08/11/2021 24:45

Nov 8 (Reuters) - Hong Kong-listed Link Real Estate
Investment Trust  0823.HK  said it has agreed to buy 50%
interests in three retail properties in Sydney from Ipoh
Property Pty Ltd for A$538.2 million ($398.16 million).
    Link said on Sunday it had agreed to acquire the interests
in three retail assets at the heart of Sydney central business
district - Queen Victoria Building, The Galeries and The Strand
Arcade.
    The acquisition will be funded by cash and debt, and Link's
ratio of debt to total assets will increase to 21.4% from 20.1%,
based on its financial position at end-March 2021.
    The deal is expected to complete in the first half of 2022.
($1 = 1.3517 Australian dollars)

 (Reporting by Donny Kwok; Editing by Muralikumar Anantharaman)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470;))