Keppel REIT's Aussie acquisition expected to be completed by August

Will it be fully debt-funded?

According to Maybank Kim Eng, on 26 June, KREIT announced that it will be acquiring a 50% stake in 8 Exhibition Street, a Grade A office property in Melbourne, Australia, with an NLA of ~480,309 sq ft for a consideration of SGD192.4m.

"Already completed and 100%-leased, the acquisition is expected to be DPU-accretive, although the details of the funding structure will only be known later upon the completion of the deal, expected to be around 1 August 2013. We are currently assuming it will be fully debt-funded, given the recent volatility in the equity market," Maybank Kim Eng said.

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