SPH REIT to acquire 50% stake in South Australia's largest shopping centre for $636.5 mil

Uma Devi
Uma Devi11/7/2019 07:19 PM GMT+08  • 2 min read
SPH REIT to acquire 50% stake in South Australia's largest shopping centre for $636.5 mil
SINGAPORE (Nov 7): SPH REIT is acquiring a 50.0% stake in Westfield Marion Shopping Centre in Adelaide, Australia, for a consideration of A$670.0 million ($636.5 million). 
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SINGAPORE (Nov 7): SPH REIT is acquiring a 50.0% stake in Westfield Marion Shopping Centre in Adelaide, Australia, for a consideration of A$670.0 million ($636.5 million).

Marion Sub Trust, which is wholly-owned by SPH REIT, on Thursday entered into a sale of land contract with investment management platform Lendlease Real Estate Investments.

The acquisition is expected to be completed by end-2019. Post-completion, Scentre Group, the current co-owner of the shopping centre, will be SPH REIT’s partner in the joint venture.

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