Singapore’s K-REIT Asia (KASA.SI) said on Monday it plans to acquire a 50% stake in an office building in Sydney’s central business district at a price ranging from A$154.4 million ($200 million) to A$169.8 million.
K-REIT Asia has entered into an agreement with Mirvac Property Trust for a 50% interest in Mirvac 8 Chifley Trust, which owns 8 Chifley Square, a 30-storey commercial building currently under development.
It is scheduled for completion in the third quarter of 2013 and will have an estimated 205,700 square feet of net lettable area.
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