THE Foreign Investment Review Board has given Singapore REIT Starhill Global Real Estate Investment Trust approval to acquire the Myer Centre Adelaide for $288 million.
YTL Starhill Global CEO Ho Sing also announced that the trust has negotiated a A$145 million three-year term secured loan facility and a S$250 million three-year unsecured term loan facility, to fund the acquisition.
“I am pleased to report that the Australian Foreign Investment Review Board has approved our purchase of Myer Centre Adelaide. We have also entered into an Australian dollar denominated loan facility which will match approximately half of the purchase consideration of Myer Centre Adelaide, thereby reducing the impact of volatility arising from the fluctuation of the Australian dollar against the Singapore dollar,” Ho said.
Australian Property Journal
