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Ascendas REIT pays A$106M for suburban office property in Queensland, Australia

Ascendas Real Estate Investment Trust paid A$106.2 million to purchase a suburban office property near its recently acquired property at No. 100 Wickham St. in Queensland, Australia.

The freehold property at No. 108 Wickham St. consists of a six-story office building with 141 car park lots and a total lettable floor area of 11,913 square meters. Key tenants at the property include multinational professional services and consultancy firm ARUP and the State of Queensland's Department of Health. The seller was 108 Wickham Pty. Ltd.

Ascendas used internal resources and existing debt facilities to finance the purchase, and it expects to incur an estimated total transaction cost worth A$7.7 million.