80 Hartley Street (Photo: Frasers Logistics & Industrial Trust)80 Hartley Street (Photo: Frasers Logistics & Industrial Trust)

Frasers Logistics & Industrial Trust (FLT) has entered into a conditional sale and purchase agreement to divest its property at 80 Hartley Street for AUD 90.5 million (USD67 million).

REITsWeek understands that the property has been sold to a related company of Australia’s Charter Hall REIT.

It is exchanging hands at a premium of about 40.3% above its book value of AUD64.5 million, said the vendor REIT.

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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.