As the only pure-office REIT now, Keppel REIT (KREIT) is recycling assets at top speed, say DBS Group Research analysts Rachel Tan and Derek Tan.
KREIT has announced the acquisition of Blue & William, a freehold Grade A office building under development located in North Sydney, Australia for A$327.7 million ($322.2 million). The acquisition will be fully debt-funded.
The acquisition will increase its Australia portfolio to 19.5% from 16.4% by assets under management (AUM), and the proportion of freehold assets in its portfolio to 32.6% by net lettable area (NLA).
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