Ascendas REIT has completed the proposed acquisition of a suburban office property located at 1-5 Thomas Holt Drive in Sydney’s Macquarie Park.

See: Ascendas REIT to buy Sydney property for $284 million

The acquisition cost a total of A$308.5 million ($303.3 million), which comprises the purchase consideration of A$288.9 million and transaction costs of A$19.6 million.

The REIT, which launched an equity fund raising on Nov 10, 2020, says approximately $180.0 million, or 15.0% of the gross proceeds of the fund raising, has been used to partially fund the proposed acquisition.

The proceeds of the equity fund raising came up to around $1.2 billion.

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See also: Ascendas REIT to raise $1.2 bil through equity fund raising

Units in Ascendas REIT closed 4 cents lower or 1.3% down at $3.01 on Jan 13.