Singapore remains a core market for Suntec REIT despite geographic expansion.
Suntec REIT announced Southgate Trust, a 50% joint venture with PIP Trust, has acquired a 50% interest in the Southgate complex, a mixed office and retail complex in Melbourne for AUD 289 million from Dexus Property. PIP Trust is a private fund also managed by ARA Trust Management. Total net lettable area in the freehold complex is 820,324 square feet, split 87% in office and 13% for retail, along with 1,026 car park lots. The remaining 50% interest can be acquired by Southgate Trust at the same...Suntec Real Estate Investment Trust is a Singapore-domiciled unit trust that invests in income producing real estate and real estate related assets, which are used for commercial purposes. Co. is managed by an external manager, ARA Trust Management (Suntec) Limited. Co.'s subsidiaries include Comina Investment Limited and Suntec Harmony Pte. Ltd.
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