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FINWIRES

ESR REIT to Acquire Australian Logistics Asset for AU$53 Million

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ESR REIT (SGX:J91U) agreed to acquire a 100% stake in a freehold logistics property located in Melbourne, Australia, for AU$52.5 million, according to a Thursday filing with the Singapore Exchange.

The property has a gross lettable area of around 23,229 square meters and a 100% occupancy rate.

The property is currently leased out to a government-backed company, HealthShare Victoria.

The manager will fund the acquisition through property divestments and debt financing, with the acquisition expected to conclude during the third quarter.

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