<article>Straits Trading Company has acquired a stake in a Sydney office while LMIRT has acquired a family mall in Indonesia.</article>

Straits Trading Company has acquired a stake in a Sydney office while LMIRT has acquired a family mall in Indonesia.
<h3>Straits Trading acquires stake in Sydney office</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/Straits-Real-Estate" target="_blank" rel="noopener noreferrer">Straits Real Estate</a>, a subsidiary of <a style="color: #000080;" href="http://dealstreetasia.com/tag/Straits-Trading-Company" target="_blank" rel="noopener noreferrer">Straits Trading Company</a>, is investing roughly A$119 million (S$122.7 million) for a stake in a 32-storey office building located at 320 Pitt Street in Sydney, Australia.
The acquisition was through its subsidiary, SRE Australia 2 for a 26 per cent interest in.the unit capital of 320P Trust and A$119 million of notes issued by 320P Trust.
The deal will see SRE Australia 2 become part of a consortium of funds managed by ARA Asset Management to acquire the office building from Propertylink Fund Management.
“The investment in 320 Pitt Street is very much aligned with Straits Real Estate’s strategy of redeploying capital into potentially higher return real estate opportunities. We see value in this property as it gives us a healthy stream of income via the building’s existing leases,” says Desmond Tang, CEO of Straits Real Estate.
“Beyond that, we also see its potential to be repositioned as a core investment through an asset enhancement programme similar to 114 William Street, which we successfully divested last November, shortly after its enhancement initiatives. This shows that our strategy of seeking out investments that offer immediate cashflow and value-adding proposition works,” he adds.
<h3>Lippo Malls acquires new Indonesian mall</h3>
LMIRT Management, the manager of <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/lmirt/" target="_blank" rel="noopener noreferrer">Lippo Malls Indonesia Retail Trust (LMIRT)</a>, is to acquire PT Mitra Anda Sukses Bersama (PT MASB) from its owners for 310 billion rupiah (S$32.2 million) consideration.
The mall, Lippo Plaza Kendari, is a four-storey mid-sized family shopping mall with a car park area, with a net lettable area of 21,008 sq m that started operations in November 2012.
PT MASB has a 30-year build-operate-transfer (BOT) agreement with the government of Southeast Sulawesi dated July 7, 2011 for a piece of land comprising retail mall, an open vehicle parking area, driveways, drop-off areas, pavements and loading dock areas.
Two wholly-owned subsidiaries of LMIRT on Monday also entered into conditional agreements to acquire Indonesian companies PT Metropolis Propertindo Utama and PT Metropolis Prima Sentosa. Collectively, these two entities own the entire issued share capital of PT MASB.

Straits Trading Company has partially acquired a Sydney office building while LMIRT has added a family mall to its portfolio.

Singapore: Straits RE picks stake in Sydney office; LMIRT acquires family mall

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Singapore: Straits RE picks stake in Sydney office; LMIRT acquires family mall

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