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Ascendas REIT spends A$31M for Brisbane, Australia, property acquisition

Ascendas Real Estate Investment Trust purchased No. 1-7 Wayne Goss Drive in Brisbane, Australia, for A$31.0 million, on Sept. 7.

The total investment cost consisted of A$30.0 million for the land and development cost and about A$1.0 million for transaction-related fees.

The Singapore-based REIT financed the amount using internal resources and existing debt facilities.

Ascendas REIT's portfolio was expanded to 98 properties in Singapore, 34 properties in Australia and 12 properties in the U.K., following the completion of the transaction.