Keppel Reit acquires Sydney commercial property for A$306m

Singapore

KEPPEL Reit has acquired a freehold commercial property in Sydney for A$306 million (S$305 million), the real estate investment trust's manager said on Sunday.

It entered into an agreement with Sydney-based Goodman Group to acquire a 100 per cent stake in Pinnacle Office Park, a freehold Grade A commercial property comprising three office buildings in Macquarie Park, the Reit manager said in a press release.

The acquisition is set to be completed in the fourth quarter and will be fully funded with Australian dollar-denominated debt for natural hed…

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