Singapore-listed AIMS AMP Capital Industrial REIT (AIMS AMP REIT)(SGX:O5RU) has completed its acquisition of a 49% stake in Australian business centre Macquarie Park. The property is currently known as Optus Centre, a reflection of the telecommunications group's tenancy.

Singapore-listed AIMS AMP Capital Industrial REIT now has a 49% stake in Optus Centre. 

The AUD184.425 million (SGD205.3 million) acquisition is fully funded by debt and 95% denominated in Australian dollars, putting a natural hedge against current fluctuations with the Singapore dollar.

Unit holders are expected to see pro forma yield accretion of about 5.1% as a result of the acquisition once earnings from the property is reflected in the March 2014 distribution.

With the acquisition of the stake, AIMS AMP REIT leverage increased by 42% to 37.8%.

Units of AIMS AMP REIT closed flat at the end of the trading day to end at SGD1.41 on the Singapore Exchange.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.