SINGAPORE (Dec 18): In its first foray overseas, SPH REIT says that it is acquiring an 85.0% interest in an Australian property, Figtree Grove Shopping Centre, for a consideration of A$175.1 million ($175.1 million) from an unrelated third party, Swordfish Australian Mid TC, under a unit sale agreement.

The acquisition was made through Figtree Holding Trust, a wholly-owned subtrust of SPH REIT Moelis Australia Trust.

SPH REIT Moelis Australia Trust is in turn jointly held by SPH REIT and entities by the asset management division of Australia-listed Moelis Australia Limited in the proportion of 85:15, respectively. The property price of A$206.0 million was arrived on a willing-buyer and willing-seller basis.

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