Rubicon America Trust has settled the acquisition of the $US592.4 million GSA II Portfolio.
Three properties are being held in escrow with rental income flowing to RAT pending final tenant consent that is expected over the next two weeks.
Following the acquisition, RAT now has 33 properties in its portfolio diversified across 20 states of the US covering approximately 6.3 million square feet.
The RAT Portfolio is valued at US$1.265 billion.
The forecast cash distribution of 10.75 cents per unit for the year ending December 31, 2007 and the current NTA per unit of $1.23 are confirmed.
By Kathryn O’Meara
