CapitaLand Integrated Commercial Trust Management Limited (CICTML), the manager of CapitaLand Integrated Commercial Trust (CICT), announced that CICT has entered into an agreement with an unrelated third-party to acquire a 50-percent interest in 101 – 103 Miller Street and Greenwood Plaza, an iconic integrated development in North Sydney CBD, Australia, for A$422 million ($305 million).
The deal comprises a 28-story Premium Grade office tower and a two-story office building, collectively referred to as 101 Miller Street (unless otherwise stated) and a retail center, Greenwood Plaza.
“The total investment of approximately A$1.1 billion ($800 million) in the three Sydney properties will provide CICT with a new engine of growth in a developed market with strong fundamentals, and the potential to ride on the city’s gradual recovery and rejuvenation in the mid to long term,” said Tony Tan, CEO of CICTML. “CICT’s Singapore assets account for approximately 91 perc
