Australian landlord Propertylink terminated its non-binding A$82 million contract to buy Raffles Education Corp. Ltd.'s entire freehold interest in a commercial building in Parramatta, Australia.
A definitive agreement was subject to, among other things, a due diligence by Propertylink, through which the real estate investment trust concluded that the asset fundamentals did not match some aspects of its acquisition criteria, according to a release.
The asset at 1-3 Fitzwilliam St. stands six stories tall on approximately 2,049 square meters of land and offers 9,782 square meters of net lettable area.
