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Sign in Sign up for a FREE subscriptionLink REIT makes first foray outside Greater China
Link REIT has entered the Australian market by acquiring a 28,385 square-meter (305,534-square-foot) office building in Sydney for A$683 million ($469.5 million).
The 10-story office building, 100 Market Street, in the central business district will be bought from Blackstone Group and Link Asset Management. It is fully leased to a sovereign wealth fund, a government agency and a listed property investor, reported Financial Review.
The acquisition is Link REIT’s first outside Greater China. The deal is expected to close by early next year.
The retail-focused Link is Asia’s largest REIT and the first REIT listed in Hong Kong. It is managed by Link Asset Management Limited.
