Ascendas REIT inks deal to acquire Melbourne office building for $75m

Source: Artist Impression of the eight-storey office building located at 254 Wellington Road, Melbourne, Australia (Ascendas Funds Management (S) Limited)

Singapore–listed industrial landlord Ascendas REIT (A-REIT) has acquired an uncompleted office building located in Melbourne, Australia for A$110.90 million ($74.71 million), per its filing.

The seller is ESR FPA (Wellington Road) Pty Limited. This will be the REIT manager’s fourth suburban office property in Australia.

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