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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)