Frasers Logistics & Commercial Trust asset in Victoria

Frasers Logistics & Commercial Trust (FLCT) will fund its recently-announced acquisition in the Australian state of Victoria with divestment proceeds.

And as such, there will be no changes to the REIT’s net tangible assets (NTA).

FLCT first disclosed on 19 May that it is acquiring a freehold suburban commercial property in Mount Waverley for AUD60.25 million.

The property is a five-storey Grade A office building with a total net lettable area of 7,297 square metres.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.