Singapore-listed Frasers Logistics & Industrial Trust (FLT) has entered into sale and purchase agreements to acquire interests in nine freehold German logistics properties, and three freehold Australian logistics properties.

The assets are being acquired from various subsidiaries of the REIT’s sponsor, Frasers Property Limited, for a total purchase price of approximately AUD644.7 million (SGD612.5 million).

The aggregate consideration that will be paid by the REIT is approximately AUD507.2 million.

This after taking into account net assets, and liabilities of holding companies that own the German properties, which will be assigned to the REIT once the acquisitions complete.