OUE REIT (SGX:TS0U) units were allocated around 50% stake in Salesforce Tower in Sydney, Australia, for around AU$461.4 million, according to a Friday filing with the Singapore Exchange.
The commercial property's acquisition will be financed through debt and proceeds from the divestment of Crowne Plaza Changi Airport.
The recent transaction takes the REIT's overall stake to 69.9%.
The 55-story tower has a net lettable area of 61,915 square meters and is at 100% occupancy.
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