Brief: Suntec Real Estate Investment Trust Announces Acquisition Office Building In Sydney

Suntec Real Estate Investment Trust

01/07/2019 02:23

July 1 (Reuters) - Suntec Real Estate Investment Trust
 SUNT.SI :
    * ANNOUNCES ACQUISITION OF 100% INTEREST IN A FREEHOLD GRADE
A
OFFICE BUILDING IN SYDNEY
    * AMOUNT PAYABLE BY SUNTEC REIT 21 TRUST FOR PROJECT IS
ABOUT
A$297.0 MILLION
    * ESTIMATED TOTAL COST OF ACQUISITION AND SUBSEQUENT
DEVELOPMENT
SERVICES FOR SUNTEC REIT IS ABOUT A$307.7 MILLION
    * ACQUISITION IS EXPECTED TO BE DPU ACCRETIVE;  SEES INITIAL
NET
PROPERTY INCOME YIELD TO BE 5.5% P.A.

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ1j9dgL
Further company coverage:  SUNT.SI 

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