Frasers Logistics & Commercial Trust Acquires Two Freehold Properties
August 4, 2020 — Frasers Logistics & Commercial Trust announce the proposed acquisition of a logistics property located at 75-79 Canterbury Road, Braeside, Victoria, Australia and 100% of the issued share capital of Maxis Business Park Limited which wholly-owns a property known as Maxis Business Park located in Bracknell, Thames Valley, United Kingdom.
The estimated total purchase consideration of the Proposed Acquisitions is approximately S$89.9 million, comprising (i) an asset purchase consideration of A$22.5 million (approximately S$22.2 million) for the Proposed Australian Acquisition; and (ii) a purchase consideration2 of £37.7 million (approximately S$67.7 million) for the Proposed UK Acquisition. The aggregate purchase consideration for the Proposed Acquisitions was negotiated on a willing-buyer and willing-seller basis and supported by independent valuations.
Separately, the REIT Manager is also pleased to announce the proposed sale of the remaining 50% of its ownership in the property at 99 Sandstone Place, Parkinson, Queensland, Australia to the existing co-owner4, being an entity managed by DWS, a global real estate investment manager, for a sale consideration of A$152.5 million (approximately S$150.5 million).
Read more here..