SPH REIT to acquire 85% stake in New South Wales retail property

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Singapore-listed SPH REIT has proposed to acquire an 85% interest in Figtree Grove Shopping Centre for AUD175.1 million (USD125 million).

The REIT is acquiring the property via Moelis Austhrough Figtree Holding Trust, a wholly-owned joint venture trust of SPH REIT Moelis Australia Trust.

This joint venture is, in turn, jointly held by SPH REIT, and entities managed by the asset management division of Moelis Australia Limited.

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