AIMS APAC REIT completes acquisition of Woolworths HQ

The property was acquired for $454m.

AIMS APAC REIT has completed its acquisition of Woolworths HQ in New South Wales, Australia.

The property was acquired for approximately $454.0m (A$463.25m) and was funded by debt financing, acquisition fee payable in units, and net proceeds raised from the issuance of perpetual securities on 1 September 2021.

The latest acquisition of Woolworths HQ brought AA REIT’s total industrial properties to 29; 26 in Singapore and three in Australia.

The REIT’s manager said the “accretive and transformational acquisition” of Woolworths HQ ties in well with AA REIT’s “strategy of investing in quality assets that provide long-term stable and growing income yield and capital growth potential.”

“Fully leased to a highly reputable tenant, this property has the strategic potential for long-term redevelopment in terms of future site expansion.,” the manager added.

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