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Ascendas Reit completes acquisition of Stage 4, Power Park Estate

By Michael Lim

/ The Edge Property |

April 5, 2017 4:00 PM SGT

Ascendas Reit has completed the acquisition of Stage 4, Power Park Estate, Dandenong South, in Melbourne, Australia, for A$24.8 ($26.5 million). The total cost of the acquisition is A$27.3 million, inclusive of $0.85 million in transaction cost.

The transaction cost includes stamp duty, professional advisory fees and an acquisition fee — 1% of the purchase consideration of A$24.8 million — payable to the manager, and amounting to A$0.248 million.

Ascendas Reit says the total acquisition cost was funded through existing debt facilities.

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