SPH REIT To Acquire A 50% Interest In Westfield Marion Shopping Centre
PH REIT Management Pte. Ltd., in its capacity as themanager of SPH REIT (the “Manager”), is pleased to announce that Marion Sub Trust(which is wholly owned by SPH REIT) has today entered into a Sale of Land Contract with an unrelated third party, Lendlease Real Estate Investments Limited (the “Seller”) to acquire a direct 50.0% interest in the Westfield Marion Shopping Centre (“Westfield Marion”) for a purchase consideration of A$670.0 million (approximately S$636.5 million)(the “Acquisition”).
The Acquisition is expected to be completed by end 2019. MoelisAustralia Funds Management Pty Ltd, a subsidiary of Moelis Australia Limited (“Moelis Australia”), has been appointed as investment manager for the Marion Sub Trust.