Ascendas REIT Completes Acquisition Of 254 Wellington Road In Australia
September 14, 2020 – Ascendas Funds Management Limited, the Manager of Ascendas Real Estate Investment Trust (Ascendas REIT), announced that the Acquisition has been completed following the receipt of practical completion in respect of the Property.
The total cost of the Acquisition, which is subject to adjustments, is approximately A$105.8 million (S$101.9 million1) which comprises (i) the purchase consideration of approximately A$104.5 million2 and (ii) transaction costs of approximately A$1.3 million, which includes stamp duty, professional advisory fees and the acquisition fee payable to the Manager in cash (being 1% of the purchase consideration of A$104.5 million, which amounts to approximately A$1.045 million (S$1.006 million)3).
The Property is on track to achieve the 5 Star Green Star Design and As Built and 5 Star NABERS energy ratings. Nissan Motor Co. (Australia) Pty Ltd currently occupies 65.2% of the Property on a 10 year lease.
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