Suntec REIT Acquires 55 Currie Street in Adelaide, Australia; FVE Raised to SGD 1.88
Suntec REIT announced it will acquire a 100% stake in a Grade A freehold office building at 55 Currie Street, Adelaide, Australia with net lettable area of 282,000 square feet for AUD 148.3 million, or about SGD 142.4 million. This translates into a purchase price of AUD 526 per square feet (or SGD 505 per square feet). The 31-year-old building is in Adelaide’s central business district and is a five-minute walk from the Adelaide railway station. This acquisition is expected to be completed by e...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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