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Suntec REIT closes Australian office building purchase

Suntec Real Estate Investment Trust completed its acquisition of an entire office building at 55 Currie St. in Adelaide, Australia, according to a Sept. 10 filing.

The Singapore-based real REIT had agreed in July to buy the freehold grade A office asset through its Suntec REIT 55 Trust for a total of A$148.3 million.

The parties then mutually agreed to cancel the agreement after it expired, and sign a new deal for the asset with AEP Currie Pty. Ltd., a trustee of the seller AEP 55 Currie Street Office Trust. The new contract was signed on the same terms as the initial agreement, Suntec REIT's manager, ARA Trust Management (Suntec) Ltd., said in the filing.