Link REIT acquires 50% stakes in three Australian retail landmarks. (Link REIT)

Link REIT is acquiring 50% interests in three Australian retail landmarks for AUD538.2 million (USD398 million).

The assets are namely Queen Victoria Building (QVB), The Galeries and The Strand Arcade.

All three assets are located in the CBD of Sydney, and the portfolio occupancy was last recorded at 94.3%, said the 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.