Rubicon America Trust has settled the acquisition of the 19.9% remaining interest in the GSA I Portfolio on July 01.
As a result of this acquisition, RAT’s ownership interest in the $US522.6 million GSA I Portfolio will increase to 100%.
RAT is expected to settle on the $US592.4 million GSA II Portfolio acquisition on or before July 06.
“We are pleased to have finalised this acquisition and look forward to settling the GSA II acquisition on Thursday. It has been a complex transaction requiring the consent of many parties involved in the US debt capital markets,” Rubicon managing director Gordon Fell said.
“Management in Australia and the US will now focus exclusively on adding value to the portfolio and maximising returns,” Dr Fell added.
By Kathryn O’Meara
