Frasers Logistics & Commercial Trust (FLCT) has entered a deal to buy a commercial property in Mount Waverley, Victoria, Australia, for A$60.25 million ($42.79 million).
“The acquisition is aligned with our strategy to pursue strategic opportunities which provides attractive yields and enables us to leverage our management expertise in Australia. With the property being 100 percent leased to reputable tenants in diverse
industries, the acquisition is expected to further enhance FLCT’s quality tenant mix and portfolio metrics, while providing unitholders with a stable income stream,” said Robert Wallace, CEO of the REIT’s manager.
The property is strategically located at 545 Blackburn Road, Mount Waverley, Victoria, Australia, in the heart of Monash, one of the most populated municipalities in Victoria. Monash has the highest concentration of employment outside Melbourne’s CBD, and the precinct continues to see growth and demand from businesses and i
