Ascendas Funds Management, the manager of Ascendas REIT, has entered into two separate agreements with unrelated purchasers for the sale of two logistics properties (82 Noosa Street and 62 Stradbroke Street) located in Brisbane and one logistics property (1314 Ferntree Gully Road) located in Melbourne, Australia.
The combined sales price was A$125.1 million ($96 million).
The proposed divestments are in line with the manager’s proactive asset management strategy to improve the quality of Ascendas REIT’s Australian portfolio and optimize returns for unitholders.
The Trust Company Ltd. (in its capacity as trustee of Ascendas Longbeach Trust No.7) has entered into a sale agreement with SIRE (Strategic Industrial Real Estate), an Arrow Capital Partners vehicle in cooperation with Altis Property Partners, for the sale of the two logistics properties in Brisbane for A$101.6 million ($78 million).
82 Noosa Street and 62 Stradbroke Street are located in Heath
