OUE REIT has announced on Jan 8 that it is in exclusive talks with Mitsubishi Estate Asia on acquisition of a partial stake in Salesforce Tower, Sydney.
The REIT manager confirmed the transaction after recent media reports, including the one published by daily broadsheet, The Australian, on Jan 7.
“In line with its mission to deliver sustainable, long-term value to unitholders, the manager continually evaluates potential and credible acquisition opportunities that are aligned with OUE REIT’s strategy,” says the REIT manager.
While Singapore remains OUE REIT's core market, the manager adds that it has been looking at opportunities in key gateway cities, including Sydney, Australia, which offer strong real estate fundamentals and stable long-term growth prospects.
Negotiations between the parties are currently still ongoing and parties have yet to enter into any binding agreement.
As at 9.30am, units in OUE REIT are trading flat at 36 cents.
